ITO EN (JP:2593) has released an update.
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ITO EN, LTD. has announced a plan to repurchase 500,000 of its own Class-A Preferred Shares for 922.5 million JPY using ToSTNeT-3, with the aim of enhancing capital efficiency and allowing for a more flexible capital policy. The buyback will occur at a fixed price, equivalent to the closing price on July 26, 2024, and will be followed by the cancellation of the acquired shares to improve shareholder value. The repurchased stocks, representing 1.60% of the total issued shares, will be canceled on July 31, 2024, reducing the number of Class-A Preferred Stocks to 32,246,962 shares.
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