GMO Internet Group Announces Secondary Offering to Meet Listing Criteria

GMO Internet ( (JP:9449) ) has provided an announcement.

GMO Internet Group, Inc. announced a secondary offering of shares of its subsidiary, GMO Internet, to meet the continued listing criteria of the TSE Prime Market. This move will reduce the company’s ownership in GMO Internet from 98.3% to 64.8%, but the subsidiary will continue to play a central role in the group’s operations. The offering is expected to result in an extraordinary profit in the company’s non-consolidated financial statements, although the impact on consolidated profit or loss will be minimal.

The most recent analyst rating on (JP:9449) stock is a Buy with a Yen4200.00 price target. To see the full list of analyst forecasts on GMO Internet stock, see the JP:9449 Stock Forecast page.

More about GMO Internet

GMO Internet Group, Inc. operates in the internet industry, focusing on internet infrastructure, internet advertising, and media businesses. It is a prominent player in the Japanese market, with its shares listed on the TSE Prime Market.

Average Trading Volume: 358,633

Technical Sentiment Signal: Buy

Current Market Cap: Yen363.3B

For a thorough assessment of 9449 stock, go to TipRanks’ Stock Analysis page.