Industrial & Infrastructure Fund Investment Corp. priced the issuance of 109,800 new investment units at ¥119,437 per unit to raise a total of approximately ¥13.11 billion via a public offering.
The issuance comprises the domestic offering of 53,600 units, an international offering of 53,600 units and the addition of up to 2,600 investment units to the international offering, subject to the right to purchase granted to the international managers.
The payment date is set for March 7, with a delivery date scheduled for March 8, the company said in a release. The offering includes the issuance of 2,600 new units at the same issue price via a secondary offering.
Additionally, the issuance features a third-party allotment of new investment units, with a total issue value of ¥300.3 million and a payment date of April 4.
The funds raised will be used to finance the company's roughly ¥21.36 billion acquisition of 10 properties across Japan.
As of Feb. 27, US$1 was equivalent to ¥107.45.
