Ishigaki Foods Co.,Ltd announced a private placement of 2,858,400 common shares at a price of ¥121 per share for gross proceeds of ¥345,866,400 on January 18, 2022. The transaction will include participation from SINO PRIDE VENTURES LIMITED for 2,268,400 shares and Real Plus Ltd for 590,000 shares. The company expects to close the transaction on February 3, 2022.

The company will incur issuance expenses of ¥13,000,000 and will receive net proceeds of ¥332,866,400. Post the closing of the transaction, SINO PRIDE VENTURES LIMITED will hold 15.87% stake in the company and Real Plus Ltd will hold 4.13% stake.