SBI Insurance Co., Ltd. announced a private placement of 6,607,000 common shares at a price of ¥1,211 per share for gross proceeds of ¥8,001,077,000 on October 26, 2018. The transaction included participation from existing investor SBI Insurance Group Co., Ltd. (TSE:7326). Post the closing the investor holds 99.19% stake in the company against 98.13% stake. The company raised the funding through third-party allotment.