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Kandenko Co., Ltd. ( (JP:1942) ) has provided an update.
Kandenko Co., Ltd. has revised the size of its previously announced secondary offering of common stock after conducting a large-scale share repurchase via the Tokyo Stock Exchange’s ToSTNeT-3 system, in which it bought back 5,392,700 of its own shares. Following this transaction, selling shareholder TEPCO Power Grid reduced its planned offering by selling 5,188,900 shares to Kandenko in the repurchase, resulting in a new secondary offering structure of 18,259,400 shares to be sold by TEPCO through underwriters and up to 2,738,900 additional shares potentially offered via over-allotment, with the final size of the over-allotment tranche to be set in mid-February based on market demand. The adjustment reflects an effort to balance TEPCO’s divestment with Kandenko’s capital strategy and may influence the company’s shareholder composition and liquidity in the Prime Market.
The most recent analyst rating on (JP:1942) stock is a Hold with a Yen6091.00 price target. To see the full list of analyst forecasts on Kandenko Co., Ltd. stock, see the JP:1942 Stock Forecast page.
More about Kandenko Co., Ltd.
Kandenko Co., Ltd., listed on the Tokyo Stock Exchange Prime Market under securities code 1942, operates in Japan’s electrical and infrastructure construction sector, providing engineering, installation, and related services to utility and power grid operators such as TEPCO Power Grid, Incorporated.
YTD Price Performance: 10.64%
Average Trading Volume: 1,077,027
Technical Sentiment Signal: Buy
Current Market Cap: Yen1136.6B
For detailed information about 1942 stock, go to TipRanks’ Stock Analysis page.