AMITA HOLDINGS fell sharply for the first time in 3 sessions while announcing a business alliance with Japan Asia Investment. It will also conduct a third-party allotment to a fund managed by Japan Asia Investment, raising approximately ¥642.864 million.
AMITA HOLDINGS announced a business alliance with Japan Asia Investment and a third-party allotment to the JAIC Supply Chain Fund investment limited partnership operated by Japan Asia Investment.
Payment for the third-party allotment is due on 31 August. The company will issue 1.93 million shares at ¥343 per share. Estimated net proceeds of ¥642.864 million are expected to be used to fund investment in the construction of a new plant by its consolidated subsidiary in Indonesia, among other purposes.
Under the business alliance, the companies will consider discussing the development of frameworks for establishing and promoting businesses that address social issues in Japan and overseas, the commercialization of MEGURU STYLE, and the development of financing methods using funds and SPCs.
The stock is reportedly being viewed as a market catalyst alongside the earnings announcement.