Nichi-Iko Pharmaceutical Co., Ltd. announced a private placement of 633,462,300 common shares at a price of Ñ31.57 per share for gross proceeds of Ñ19,998,404,811 on November 14, 2022. The transaction will include participation from new investor, Godo Kaisha JSD. The company will follow third-party allotment method in the transaction.

Post closing Godo Kaisha JSD will acquire 89.99% in the company. The transaction has been approved by the board of directors. The company will incur expenses of Ñ235,200,000 and will receive net proceeds of Ñ19,764,800,000.

The transaction is expected to close from March 1, 2023 to March 31, 2023.