Qingdao Xinzhanfang Trade Co., Ltd announced that a private placement of common shares on September 15, 2017. The transaction will involve participation from Generation Pass Co.,Ltd. (TSE:3195). Post the closing of the transaction, the investor will hold 77.78% stake in the company. The transaction is expected to close in mid-December 2017. The company will issue the shares by a way of third party allotment.