SHIKOKU KASEI HOLDINGS extends decline on concerns over supply-demand deterioration from share offering
SHIKOKU KASEI HOLDINGS CORPORATION <4099> extended losses on Tuesday after announcing after market close on the 1st that existing shareholders will conduct a secondary offering of 4.756 million shares. An over-allotment of up to 713,400 shares will also be conducted depending on demand. The offering price will be determined between the 9th and 14th. Selling pressure emerged amid concerns over a deteriorating supply-demand balance.
Separately, the company announced a share buyback program of up to 1.8 million shares (2.1% of total issued shares excluding treasury stock) or 4 billion yen to mitigate the impact on supply-demand conditions.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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