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Star Asia Investment prices 66,200 new investment units

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Star Asia Investment prices 66,200 new investment units

Star Asia Investment Corp. priced 66,200 new investment units at ¥96,720 apiece, bringing the total issue price of its primary offering to approximately ¥6.40 billion.

The units will be issued at a discount of 2.50% to the company's March 28 share price of ¥99,200. In addition, Star Asia Investment will launch a secondary offering through an overallotment of 3,400 investment units, also priced at ¥96,720 apiece, bringing the total offer price to approximately ¥328.8 million.

The company will also issue new investment units through a third-­party allotment. This offering, which has a maximum issue amount of ¥317.0 million, is subject to cancellation if there are no applications for subscription of all or a part of the units.

The net proceeds from the primary offering will be directed towards property acquisitions, while net proceeds from the third­-party allotment will be used to help repay debt.

As of March 27, US$1 was equivalent to ¥110.42.