Kansai Super Market Ltd. (TSE:9919) announced a private placement of 3,200,000 common shares at ¥1,616 per share for gross proceeds of ¥5,171,200,000 on October 27, 2016. The transaction will include participation from new investor H2O Retailing Corporation (TSE:8242). The shares will be issued through third-party allocation method.

The transaction is expected to be completed by November 14, 2016. The company will incur issue expenses of ¥52,900,000 which includes adviser expenses, registration-related expenses, securities registration statement creation expenses, and other expenses. The company will receive net proceeds of ¥5,118,300,000.

The transaction has been approved by board of directors of the company. Pursuant to the transaction, the investor shall hold 10.02% stake in the company.