Nippon Shikizai France announced a private placement of common shares for gross proceeds of 453,252.80 on June 15, 2021. The transaction will include participation from returning investor Nippon Shikizai, Inc. The transaction has been approved at the board of directors meeting of the investor. Upon completion, company's registered capital will increase from 480,000 to 590,000, and the investor will continue to hold 80% stake in the company.
The transaction is subject to approval at the general assembly of investors to be held of June 22, 2021.