cocokara fine Inc. (TSE:3098) announced a private placement of 5,939,600 common shares at a price of ¥6,460 per share for gross proceeds of ¥38,369,816,000 on January 31, 2020. The transaction will include participation from returning investor Matsumotokiyoshi Holdings Co., Ltd. (TSE:3088). The company issued shares through third-party allotment method.

The transaction is expected to close from March 31, 2020 to April 30, 2020. The investor will hold 20.04% stake in company post completion and have entered into a transaction to acquire the remaining 80%.