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Hulic falls sharply on concerns over short-term supply-demand deterioration from overseas share offering
Hulic Co., Ltd. <3003> fell sharply. The company announced after the close of trading on May 21 that it has resolved to conduct a share offering in overseas markets. Selling emerged on concerns over a short-term deterioration in share supply and demand. Oki Electric Industry Co., Ltd. <6703>, Yasuda Logistics Corp <9324>, Aomori Michinoku Bank under Procrea Holdings, Inc. <7384>, and Katakura Industries Co., Ltd. <3001> will sell their holdings. The total number of shares to be offered is 17.39 million shares. The offering price was set at 1,650 yen per share. The discount rate is 5.01% relative to Hulic's closing price on the previous day. As the market trend toward unwinding cross-shareholdings progresses, Hulic responded to selling intentions from shareholders. The company aims to improve share liquidity and the ratio of overseas investors.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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