Japan Property Management Center Co.,Ltd. announced that it expects to receive ¥3.772 million in funding from SBI Securities Co., Ltd., Investment Arm
September 22, 2020
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Japan Property Management Center Co., Ltd. (TSE:3276) announced a private placement of 8,000 7th stock acquisition rights at a price of ¥429 per right for gross proceeds of ¥3,432,000 and 2,000 8th stock acquisition rights at a price of ¥170 per right for gross proceeds of ¥340,000, for aggregate gross proceeds of ¥3,772,000 on September 23, 2020. The transaction will include participation from SBI Securities Co., Ltd., Investment Arm. Each stock acquisition right is exercisable into 100 common shares of the company from October 12, 2020 to October 11, 2022. The total number of shares to be issued upon exercise is 1,000,000 shares which includes 800,000 through exercise of 7th stock acquisition rights, and 200,000 through exercise of 8th stock acquisition rights. The minimum exercise price for the 7th stock acquisition rights is ¥1,500, and for 8th stock acquisition rights is ¥2,000. The amount to be raised post exercise of the rights is ¥1,600,000,000. The securities will be issued by a way of third party allocation. The transaction has been approved by the board of directors of the company. The expected date of allocation and payment date is October 9, 2020.
Japan Property Management Center Co Ltd is a Japan-based company mainly engaged in the development of property management business nationwide, centered on lump-sum lease business. The Company rents real estate properties (rental housing such as rental condominiums and rental apartments) from real estate owners and subleases them to general residents. The Company is engaged in the rental management on behalf of landlords. Construction work, remodeling work, real estate property management and brokerage, and management of elderly housing are operated by partner companies (real estate management companies, construction companies, remodeling companies, and long-term care companies) nationwide. The Company is also engaged in the delinquency guarantee business, insurance business, broadband business (JPMC Hikari), sales business of building materials, and contract for renewal, remodeling and renovation work in the metropolitan area.