Nichiden Sets Terms for ¥4.56 Billion Secondary Share Offering

Nichiden Corporation ( (JP:9902) ) has issued an update.

Nichiden Corporation has set the terms for a secondary offering of its common stock, following a board resolution earlier in February. The company will conduct the sale via underwriters on the Tokyo market, reflecting an effort to facilitate share liquidity and accommodate investor demand among existing and new shareholders.

The main secondary offering will be priced at ¥2,425 per share, for a total selling amount of approximately ¥4.56 billion, with underwriters purchasing at a slightly lower underwriting value. An additional over-allotment of 282,300 shares, also priced at ¥2,425, will be available, supported by a green shoe option and syndicate covering transactions over set periods to stabilize the share price around the offering.

The most recent analyst rating on (JP:9902) stock is a Hold with a Yen2520.00 price target. To see the full list of analyst forecasts on Nichiden Corporation stock, see the JP:9902 Stock Forecast page.

More about Nichiden Corporation

Nichiden Corporation, listed on the TSE Prime with code 9902, is a Japanese company that has issued common stock traded on public markets. While the release does not describe its specific business lines, the company is active enough in the capital markets to conduct secondary offerings through underwriters, indicating an established shareholder base and institutional market access.

Average Trading Volume: 53,852

Technical Sentiment Signal: Buy

Current Market Cap: Yen72.91B

For a thorough assessment of 9902 stock, go to TipRanks’ Stock Analysis page.