EREX Co.,Ltd. announced that it expects to receive ¥28.24 million in funding from Mizuho Securities Co., Ltd., Investment Arm, SMBC Nikko Securities Inc., Investment Arm
September 06, 2020
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eREX Co.,Ltd. (TSE:9517) announced a private placement of 80,000 stock acquisition rights at the price of ¥353 per right for gross proceeds of ¥28,240,000 on September 7, 2020. The transaction will include participation from Mizuho Securities Co., Ltd., Investment Arm who will acquire 24,000 rights and SMBC Nikko Securities Inc., Investment Arm who will acquire 56,000 rights. The allocation is done through third party allocation. The right can be converted into 100 shares per stock acquisition at the price of ¥1,268 per share. The total issuance expenses would be ¥9,000,000 including conversion. The transaction is expected to close on September 23, 2020.
Erex Co Ltd is a Japan-based company mainly engaged in the integration and promotion of fuel business, power generation business, trading business, and power retail business, with renewable energy as its core. The electricity retail business sells electricity to corporate and individual consumers nationwide from Hokkaido to Okinawa. The power generation business owns four biomass power plants in Saiki, Buzen, Ofunato, and Okinawa. The fuel business aims to utilize unused wood residues, rice husks, and other biomass fuels and strengthens external sales. The trading business works to procure stable and price-competitive electricity by combining procurement from wholesale electricity exchanges and other sources. The trading business also engages in electricity-related trading operations to reduce the risk of fluctuations in electricity market prices. The overseas business promotes the expansion of renewable energy businesses in Asian countries.
EREX Co.,Ltd. announced that it expects to receive ¥28.24 million in funding from Mizuho Securities Co., Ltd., Investment Arm, SMBC Nikko Securities Inc., Investment Arm