GMO Financial Gate Co., Ltd. announced a private placement of 58,621 shares at ¥28,999.846471 per share for gross proceeds of ¥1,699,999,999.97 on August 22, 2016. The transaction will include participation from a returning investor, GMO Payment Gateway, Inc. (TSE:3769) increasing the number of shares held from 19,132 to 77,753. As part of the transaction, the investor will acquire 15.4% stake in the company, increasing its stake from 49.6% to 65%.

The transaction will take place through third-party allocation. The expected contract conclusion date is middle of September 2016 and the expected share transfer execution date is September 30, 2016. The transaction was approved by the board of directors of GMO Payment Gateway, Inc. and is subject to the approval in its extraordinary general meeting of the shareholders scheduled on September 28, 2016.