The Fukuoka Chuo Bank, Ltd. (FKSE:8540) announced a private placement of a maximum of 300,000 series 1 class A preferred shares at an issue price of ¥10,000 per share for gross proceeds of a maximum of ¥3,000,000,000 on November 26, 2019. The company will raise funding through third-party allotment method. The payment date is March 10, 2022.

The company will incur issue expenses of ¥65,000, pursuant to the transaction. The company will raise net proceeds of ¥2,935,000,000 in the transaction. The transaction has been approved by board of directors of the company.