The Fukushima Bank, Ltd. (TSE:8562) announced a private placement of 5,000,000 shares at a price of ¥222 per share for the gross proceeds of ¥1,110,000,000 November 11, 2019. The transaction will include participation from new investor SBI Holdings, Inc., Investment Arm. The transaction has been approved by board of directors. The company will raise funding through third party allotment. The transaction will close between November 30, 2019 to January 31, 2020. The company will pay issue expenses of ¥20,000,000 in the transaction. Post closing, the investor will acquire 17.85% stake in the company.