Japan Property Management Center Co., Ltd. announced that it expects to receive ¥10.4 million in funding
November 15, 2018
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Japan Property Management Center Co., Ltd. (TSE:3276) announced a private placement of 25,000 series five warrants at a price of ¥296 per warrant for gross proceeds of ¥7,400,000 and 20,000 series six warrants at a price of ¥150 per warrant for gross proceeds of ¥3,000,000, for total gross proceeds of ¥10,400,000 on November 15, 2018. Number of potential shares through this issuance 4,500,000 shares. Each warrant is exercisable into 100 shares. The minimum exercise price for the warrants is ¥902, the number of potential shares in relation to the warrants is 4,500,000 even at the minimum exercise price. The initial exercise price of series five warrants and series six warrants at ¥1,288 and ¥1,674 respectively. The warrants will be issued by a way of third party allocation. The warrants have an exercise period starting December 4, 2018 to December 3, 2020. The expected date of allocation is December 3, 2018. The transaction has been approved by the board of directors of the company.
Japan Property Management Center Co Ltd is a Japan-based company mainly engaged in the development of property management business nationwide, centered on lump-sum lease business. The Company rents real estate properties (rental housing such as rental condominiums and rental apartments) from real estate owners and subleases them to general residents. The Company is engaged in the rental management on behalf of landlords. Construction work, remodeling work, real estate property management and brokerage, and management of elderly housing are operated by partner companies (real estate management companies, construction companies, remodeling companies, and long-term care companies) nationwide. The Company is also engaged in the delinquency guarantee business, insurance business, broadband business (JPMC Hikari), sales business of building materials, and contract for renewal, remodeling and renovation work in the metropolitan area.