KOSAIDO Holdings rebounds as treasury share cancellation expected to bring float ratio into compliance
KOSAIDO Holdings Co., Ltd. <7868> rebounded after four straight sessions of losses. After the market close on Aug. 31, KOSAIDO announced it will cancel 16,185,205 treasury shares - equivalent to 9.85% of total issued shares - effective Sept. 18. As of end-March, the company had failed to meet the "floating share ratio" requirement under Tokyo Stock Exchange Prime Market listing standards, but expects the cancellation to bring it into compliance. The news spurred buying.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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