Shinwa Wise Holdings Co.,Ltd. announced that it expects to receive ¥100.296 million in funding
November 31, 2019
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Shinwa Wise Holdings Co.,Ltd. (JASDAQ:2437) announced a private placement of 280,000 common shares at a price of ¥358.20 per share for gross proceeds of ¥100,296,000 on November 1, 2019. The transaction will include participation from Tsubasa Mizuguchi for 200,000 shares and Hiroki Kojima 80,000 shares through thirds party allocation method. . The transaction is expected to be closed by November 18, 2019. The company will receive net proceeds of ¥100,296,000 in the transaction. The company will incur legal expenses of ¥2,000,000 and ¥300,000 for other expenses which includes document preparation expenses, external investigation expenses. The transaction has been approved by board of directors of the company.
Shinwa Wise Holdings Co Ltd is a Japan-based company mainly engaged in auction related business and energy related business. It has two business segments. Art related segment is divided into auction business and private sale and other business. Auction business holds modern art auctions, modern ceramic art auctions and modern art Part II auctions according to the works and price ranges handled. It also holds auctions of postwar and contemporary art, Western art, wine and liquor, MANGA, brand miscellaneous goods, watches, jewelry and others. Private sales and other businesses mainly involve in private sales of asset defense diamonds as well as paintings, which are negotiated transactions other than auctions. The Other Business segment is engaged in the electricity sales business of solar power generation facilities. In Malaysia, the Company is also engaged in the sales business of palm kernel shells (PKS), which are used as fuel for biomass power generation.
SHINWA WISE HOLDINGS CO.,LTD. 
