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Kumagai Gumi Co ( (JP:1861) ) just unveiled an update.
Kumagai Gumi has resolved to conduct a secondary offering of its common shares as part of an adjustment to its long-standing capital and business alliance with Sumitomo Forestry. Sumitomo Forestry will sell 9,976,900 Kumagai Gumi shares through an underwritten secondary offering, with pricing to be set at 90–100% of the market closing price on a specified date in January, and an additional over-allotment option of up to 1,496,500 shares may be executed depending on investor demand. The move is aimed at improving capital efficiency and enhancing shareholder value by partially unwinding cross-shareholdings while maintaining the alliance, as Sumitomo Forestry is expected to remain classified as an “other associate,” signaling continuity in their strategic relationship despite a reduction in mutual shareholdings.
The most recent analyst rating on (JP:1861) stock is a Buy with a Yen1752.00 price target. To see the full list of analyst forecasts on Kumagai Gumi Co stock, see the JP:1861 Stock Forecast page.
More about Kumagai Gumi Co
Kumagai Gumi Co., Ltd. is a Japan-based construction company listed on the Prime Market of the Tokyo Stock Exchange, operating in the general contracting sector and engaging in large-scale civil engineering and building projects. The company has pursued a capital and business alliance with Sumitomo Forestry Co., Ltd. since 2017, focusing on sharing technology, developing new markets, and creating high value-added construction and related solutions.
Average Trading Volume: 708,023
Technical Sentiment Signal: Buy
Current Market Cap: Yen281.2B
For detailed information about 1861 stock, go to TipRanks’ Stock Analysis page.