December 27, 2017 / 7:03 AM / 2 months ago

BRIEF- Forside to issue new shares and unit to start new business

Dec 27(Reuters) - Forside Co Ltd

* Says its wholly owned unit will start FinTech related business from Jan. 31, 2018

* Says it will issue 2 million new shares through private placement to Eastmore Strategies Limited, at the price of 275 yen per share (550 million yen in total), with payment date on Jan. 19, 2018

* Proceeds to be mainly used for machine purchase cost and setup cost

* Says its unit will acquire fixed assets for 564 million yen in total, and transaction date on March 31, 2018

Source text in Japanese:goo.gl/5LQgdw

Further company coverage: (Beijing Headline News)

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