Pilum AB (publ) (OM:PIL) announced a private placement of 12,000,000 common shares at SEK 0.25 per share with existing investor, Trention AB (publ) for gross proceeds of SEK 3,000,000 on May 8, 2016. The investor acquire 17.6% stake in the company through this transaction and now holds 29.6% stake in the company. The shares were issued at par value without pre-emptive rights of the shareholders. Upon completion, the shares of the company increased from 55,914,770 shares to 67,914,770 shares and share capital increased from SEK 1,397,869,250 to SEK 1,697,869,250. The transaction was approved by the board of directors of the company.