Dragon Technology Co., Ltd. announced a private placement of 2,700 common shares at ¥10,000 per share for gross proceeds of ¥27,000,000 on October 23, 2014. The company will issue the shares via third party allotment to new investor, Flight Holdings Inc. The payment date for the shares is expected on October 31, 2014. On closing of the transaction, the investor will acquire 90% stake in the company and turn it into its subsidiary.

The transaction was approved by the board of directors on the same date.