Asahi Eito Co., Ltd. announced that it expects to receive ¥153.29674 million in funding from Plus One Holdings Co., Ltd.
August 31, 2020
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Asahi Eito Co., Ltd. (TSE:5341) announced a private placement to issue 320,500 common shares at a price of ¥468 per common shares for a gross proceeds of ¥149,994,000 and 5,327 stock acquisition rights at issue price of ¥620 per stock acquisition right for gross proceeds of ¥3,302,740 in aggregate total proceeds of ¥153,296,740 on August 31, 2020. The transaction will include participation from individual investors Mr. Hoshino for 106,800 shares and 1,776 stock acquisition rights, Mr. Xin for 149,600 shares and 2,486 stock acquisition rights and Plus One Holdings Co., Ltd. for 64,100 shares and 1,065 stock acquisition rights. The transaction is expected to close on September 16, 2020. The transaction will include a fee of ¥11,500,000. The stock acquisition rights are convertible into 100 common shares of the company at an initial exercise price of ¥557 per share. The company will issue common stock and stock acquisition rights through third-party allotment. The transaction has been approved by the board of directors of the company.
Asahi Eito Holdings Co Ltd is a Japan-based company mainly engaged in housing equipment business. The Company is mainly engaged in the manufacture, sale and purchase and sale of sanitary ware, flush toilet sets, and other related equipment, as well as vanity tables, makeup mirrors, top boards and others related toilet equipment. The Company is also engaged in the manufacture and sale of products such as faucet fittings, drain fittings, toilet accessories, and washbowls.