Tohoku Bank, headquartered in Morioka, has decided on a plan to raise about 4 billion yen through a third-party allotment of new shares, it was learned on the 30th. The subscribers to the capital increase will be mainly local companies, joined by SBI Holdings, its capital and business alliance partner. The funds raised are expected to be used in part to repay a portion of the 10 billion yen in public funds injected in 2012. Tohoku Bank announced on the 29th that it will hold an extraordinary shareholders meeting in December. It has not disclosed the agenda or details of the meeting, but it appears the third-party allotment will be put forward as a proposal.
Tohoku Bank, Ltd.Tohoku Bank raises about 4 billion yen via third-party allotment to repay part of the 10 billion yen in public funds injected in 2012.
SBI Holdings IncorporatedSBI Holdings joins as a subscriber to Tohoku Bank's ~4 billion yen third-party share allotment, expanding its capital alliance stake.
