Village Vanguard CO.,LTD. announced that it expects to receive ¥1.5 billion in funding from Development Bank of Japan Inc., Investment Arm
October 12, 2017
Share
Village Vanguard CO.,LTD. (JASDAQ:2769) announced a private placement of 1,500 type-A preferred shares at ¥1,000,000 per share for gross proceeds of ¥1,500,000,000 on October 13, 2017. The shares will carry an initial conversion price of ¥1,003 per share and will carry a dividend of 8% per annum. The transaction will include participation from new investor, Development Bank of Japan Inc., Investment Arm. The company will incur issue expenses of ¥15,000,000 and will receive net proceeds of ¥1,485,000,000. The payment date for the shares is expected on December 22, 2017. The transaction is by way of third party allotment of shares. The transaction is subject to approval at the extraordinary general shareholders’ meeting of the company.
Village Vanguard CO.,LTD. is a Japan-based company mainly engaged in the retail business. The Company is engaged in the sale of books, digital versatile discs (DVDs), compact discs (CDs), foods and apparels. The Company aims to create a one-and-only space for customer. The main business stores are Village Vanguard with the concept of playable bookstore, a lifestyle shop new style that creates a space which adults can enjoy, and outlet businesses. The Company sells books, SPICE and new media online through its subsidiary. The Village Vanguard sells books, SPICE and new media in an integrated manner, with the keyword playable bookstore. The new style is a select shop that specializes in household goods and interior goods.
VILLAGE VANGUARD CO.,LTD. 
