SBI AXES Co., Ltd. (KOSDAQ:A950110) announced a private placement of 3,291,140 common shares at KRW 4,143.75 per share for gross proceeds of KRW 13,637,653,147 from returning investor SBI Holdings, Inc. (TSE:8473) on March 31, 2017. Post the closing, investor will hold 72.41% stake in the company. The transaction will take place through a third party allotment.

As a result of the transaction, the number of common shares of the company will increase from 21,365,400 to 24,656,540 shares. The shares are subject to a lock up period of one year from the closing. The payment date is April 17, 2017.

The transaction has been approved by the board of directors.