MG Home Co., Ltd. (TSE:8891) announced a private placement of 321,600 common shares at ¥933 per share for gross proceeds of ¥300,052,800 on May 27, 2014. The shares will be subscribed by 3rd party allocation by existing investor VT Holdings Co. Ltd. The investor will acquire additional 15.18% stake in the company and will increase its stake from 2.21% to 17.39% in the company.

After the transaction, ¥150,026,400 will be injected into the capital of the company. The company will bear issue costs of ¥2,000,000 to receive net proceeds of ¥298,052,800. The issue costs include related document creation expenses, legal expenses, and registration expenses.

The application period and settlement date for the transaction is June 30, 2014. The transaction was approved by the board of directors of the company.