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Activia Properties plans additional issue of new units for ¥19B-asset buy

A domestic underwriter for Activia Properties Inc.'s ¥14.24 billion public offering has decided to exercise an option to buy 2,400 new units of the company at ¥443,657 each.

The company is expecting net proceeds of up to ¥1.06 billion from the planned offering, with the expected amount earmarked for its proposed purchase of the DECKS Tokyo Beach and Commercial Mall Hakata assets in Japan for a combined ¥18.84 billion.

Activia Properties noted in a filing, that it intends to hold any remaining proceeds from the additional issuance as cash on hand.

As of Dec. 25, US$1 was equivalent to ¥113.22.