R-logic International Pte Ltd announced a private placement of 501,260 shares on September 21, 2017. The transaction will include participation from new investor, MCJ Co., Ltd. (TSE:6670). As part of the transaction, the investor will acquire a majority stake in the company worth 60% stake. The investor will acquire 115,860 shares from existing shareholders and the remaining 385,400 shares via a third party capital increase. The transaction is expected to close on January 31, 2018. The company and the investor entered into a transfer agreement and a third party subscription agreement on the same date. The transaction was approved by the board of directors of the investor. The company reported net assets of SGD 17,933,000, revenues of SGD 38,957,000, and net income of SGD 3,119,000 for the year ended March 2017.