Home  |  Advertise  |  Contact Us
12:48 am - Monday August 21, 2017

Fujitsu says its biggest shareholder to unload its stake

Agencies, Tokyo

Japan’s Fujitsu Ltd said on Tuesday its biggest shareholder would sell most of its stake in the electronics conglomerate, part of a plan by the two firms to unwind their cross-shareholdings.

Fuji Electric Co plans to unload 168.9 million shares. Fujitsu said it wants the stock to be sold to overseas investors.

Fujitsu also said it plans to buy back up to 39 million shares from Fuji Electric for as much as 25 billion yen ($225 million).

The terms of the share sale have not been decided.

Based on Fujitsu’s closing price on Tuesday, the sale would be worth about 114 billion yen ($1 billion). ($1 = 111.8600 yen)

Posted in: Business

You might like:

Huge prospects for water sports in Bhopal : Admiral Lamba Huge prospects for water sports in Bhopal : Admiral Lamba
Flood situation in UP remains grim: 48 deaths so far Flood situation in UP remains grim: 48 deaths so far
CM Chouhan accords warm welcome to Amit Shah CM Chouhan accords warm welcome to Amit Shah
2018 polls to be contested under Shivraj : Shah 2018 polls to be contested under Shivraj : Shah