SMN Corporation announced that it will issue 725,000 common shares at issue price of Ã569 per share for aggregate gross proceeds of Ã412,525,000 on August 10, 2022. The transaction will include participation from returning investor, The Yomiuri Shimbun Group Inc. After deducting the expenses related to the issuance costs of Ã15,000,000, the net proceeds raised by company was Ã397,525,000. The transaction is expected to close on August 26, 2022.
The company issues shares through third-party allotment. The transaction has been approved by the board of directors of the company.