NAGAWA Co., Ltd. announced that it expects to receive ¥598.851 million in funding from Nikken Kogaku Co., Ltd., Meiko Construction Co.,Ltd.
May 13, 2021
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NAGAWA Co., Ltd. (TSE:9663) announced a private placement of 75,900 common shares at an issue price of ¥7,890 per share for gross proceeds of ¥598,851,000? on May 14, 2021. The transaction will involve participation from Nikken Kogaku Co., Ltd. (TSE:9767) for 12,600 shares, and Meiko Construction Co.,Ltd. (NSE:1869) for 63,300 shares.
The company will issue shares through third-party allotment method. The company will incur expenses of ¥3,000,000. The payment date is June 1, 2021.
The transaction has been approved by the board of directors of the company. The transaction is subject to the entry into force of the notification based on the Financial Instruments and Exchange Act.
NAGAWA Co., Ltd. is a Japan-based company engaged in the design and installation of modular and system buildings, the manufacture, sale and rent of unit houses, as well as the rent and sale of construction equipment. The Company operates through three business segments. The Unit House segment is engaged in the manufacture, sale and rent of unit houses, as well as sale and rent of office equipment and electrical products incidental to houses. The Module and System Construction segment is engaged in construction and sale of module construction and system construction. The Construction Equipment Rental segment is engaged in the sale and rent of construction equipment.