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Marumae Co., Ltd. ( (JP:6264) ) has provided an update.
Marumae Co., Ltd. has approved the issuance of new shares, disposal of treasury shares and a secondary offering to raise funds for capital expenditures and balance sheet management. The public offering will comprise 2,000,000 new common shares, to be underwritten by a syndicate and partly marketed to overseas investors in Europe and Asia, excluding the United States and Canada.
The proceeds are earmarked to expand production capacity in the semiconductor, FPD and consumables businesses, and to repay borrowings related to its acquisition of KM Aluminum Co., Ltd. and support that subsidiary’s working capital. By improving its financial base, enhancing share liquidity and raising its free-float ratio, Marumae aims to bolster mid- to long-term growth and align itself with criteria for inclusion in major indices such as TOPIX, potentially strengthening its market positioning for investors.
More about Marumae Co., Ltd.
Marumae Co., Ltd. is a Japanese manufacturing company listed on the Tokyo Stock Exchange Prime Market under securities code 6264. The company operates in the semiconductor and flat panel display (FPD) sectors and also engages in a consumables business, targeting growth in high-tech production equipment and related components.
Average Trading Volume: 759,351
Technical Sentiment Signal: Buy
Current Market Cap: Yen52.77B
Learn more about 6264 stock on TipRanks’ Stock Analysis page.