Frente Co., Ltd. (JASDAQ:2226) announced a private placement 894,000 common shares at ¥2,638 per share for gross proceeds of ¥2,358,372,000 on October 29, 2014. The shares will be issued by a third party allocation to existing investor Nissin Foods Holdings Co., Ltd. Following the transaction, the investor stake in the company will increase from 20.01% to 33.41%. The company will incur ¥17,500,000 as cost for the transaction bringing the net proceeds to ¥2,340,872,000. The transaction has an expected payment date of November 18, 2014.

On October 30, 2014, the company announced that the transaction has been approved by its board of directors.

On November 18, 2014, Frente Co., Ltd. closed the transaction. The subscription of the shares was carried out on the same day.