Socionext Sets Foreign Offer Price at 14,668 Yen per Share
TOKYO (Reuters) –
Socionext’s foreign offer price for their common stock has been officially set at 14,668 yen per share, according to a report submitted to the Kanto Local Finance Office. The company’s stock closed at 15,280 yen on the 11th, reflecting a discount rate of 4.01%.
Overseas Sale of Socionext Common Stock
In a crucial move on the 5th, Socionext confirmed plans to sell its common stock to foreign investors. As part of this decision, the company announced the sale of all shares held by major stakeholders: Development Bank of Japan, Fujitsu, and Panasonic Holdings. As of end-March 2011, both the development bank and Fujitsu held 14.99% each, while Pana Holdings possessed 7.50%. The total value of these shares is expected to amount to approximately 185,180,560,000 yen.
Surge in Socionext’s Stock Price
Socionext made its debut on the Tokyo Prime Stock Exchange in October 2010. The stock initially traded around the 5,000-yen range but soars in popularity eventually drove its price to temporarily exceed 28,000 yen in June. After approximately nine months of being listed, the three major shareholders expressed their intention to divest their shares.
Fujitsu Forecasts Extraordinary Gains
On the 11th, Fujitsu revealed that due to the sale of Socionext shares, the company anticipates extraordinary gains of 63.6 billion yen in their unconsolidated financial results for the fiscal year ending March 2024. This development marks a significant milestone for Fujitsu in terms of strengthening their overall financial position.
[TOKYO (Reuters)]- Socionext’s foreign offer price was set at 14,668 yen per share on the 11th. This was revealed in a report to the Kanto Local Finance Office. The closing price of the company’s stock on the 11th was 15,280 yen, with a discount rate of 4.01%.
On the 5th, the company decided to sell its common stock overseas. It announced that it would sell all the shares held by the main shareholders, Development Bank of Japan, Fujitsu, and Panasonic Holdings. At the end of March 2011, the development bank and Fujitsu held 14.99% each, while Pana Holdings held 7.50%. Total sales will be approximately 185,180,560,000 yen.
Socioext shares were listed on the Tokyo Prime Stock Exchange in October 2010. The stock price, which was in the 5,000-yen range at the beginning of 2011, has become so popular that it temporarily exceeded 28,000 yen in June. About nine months have passed since the listing, and the three shareholders have indicated their intention to sell their shares.
Fujitsu announced on the 11th that, due to the sale of Socionext shares, it expects to record 63.6 billion yen in extraordinary gains on the sale of securities in the unconsolidated financial results for the fiscal year ending March 2024.
#Socionext #stock #offer #price #yen #major #shareholders #sell #shares #Reuters
