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Kansai Electric Power shares rise on plan to book 105 billion yen gain from KINDEN share sale
The Kansai Electric Power Company, Incorporated <9503> shares rose after the utility and Kanden Realty & Development announced after the April 27 close they would participate in a KINDEN CORPORATION <1944> tender offer for treasury shares. Kansai Electric expects to sell 33.5 million shares for 223.68 billion yen. The company anticipates booking an extraordinary gain of approximately 105 billion yen on the sale of affiliate shares for the fiscal year ending March 2027, a development that buoyed the stock.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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