Renown Inc. (TSE:3606) announced a private placement of 20,359,615 shares at a price of ¥144 per share for gross proceeds of ¥2,931,784,560 on April 12, 2013. The shares will be subscribed by existing investor, Jining Ruyi Investment Co., Ltd. through third party allocation. The investor will acquire an additional 12% stake to own 20.10% stake in the company and will also increase its voting rights in the company to 20.23% through this transaction. Shandong Ruyi Technology Group Co., Ltd. will indirectly hold 53% stake in the company upon closing. The payment period and settlement period for the transaction is from May 31, 2013 to December 31, 2013. The company will receive the net proceeds of ¥2,836,784,560 in the transaction. The company will pay issuance costs of ¥95,000,000 including advisory fees of ¥65,000,000 and registration expenses of ¥30,000,000. The transaction was approved at the company's board of directors' meeting.

On December 25, 2013, Renown Inc. closed the transaction. The investor has acquired 20.23% stake in the company through this transaction.