Xinhua Holdings Limited (TSE:9399) announced a private placement of 500,000 shares at ¥82 per share for proceeds of ¥41,000,000 and 2,000,000 warrants at ¥4.48 per warrant for proceeds of ¥8,960,000 for gross proceeds of ¥49,960,000 on May 24, 2016. The transaction included participation from returning investor Lie Wan Chie to acquire additional 21.03% stake to hold 31.13% stake in the company. Each warrant is exercisable at ¥82 per share from May 24, 2016 to May 23, 2026. The company paid issue costs related to shares of ¥868,000.