Mochida Pharma continues decline on concerns over supply-demand deterioration from share offering
Mochida Pharmaceutical Co.,Ltd. <4534> continued to decline. After the close of trading on the 30th, the company announced that existing shareholders will conduct a secondary offering of 1,153,600 shares. An additional offering of up to 173,000 shares through an over-allotment may also be conducted depending on demand conditions. The offering price will be determined on one of the days between April 6 and 9. Selling pressure dominated on concerns over deteriorating stock supply-demand dynamics.
The company also announced that it will conduct a share buyback to mitigate the impact on stock supply and demand. The buyback will be for up to 530,000 shares (1.50% of issued shares excluding treasury stock) or up to \2 billion. The period will run from May 18 to December 18.
Source: MINKABU PRESS
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