WOLVES HAND sharply reverses lower after announcing secondary offering of 2,653,600 shares
WOLVES HAND Co., Ltd. <194A> fell sharply, reversing recent gains, after announcing after market close on the 2nd that existing shareholders will conduct a secondary offering of 2.65 million shares, along with an over-allotment option for up to 398,000 shares. The announcement sparked selling amid concerns over supply-demand dynamics. The offering price will be set on a trading day between Sept. 9 and Sept. 14.
At the same time, WOLVES HAND announced a buyback of up to 100,000 shares (1.32% of outstanding shares excluding treasury stock) or 300 million yen. The repurchase period runs from Oct. 13 through Oct. 12 next year to mitigate the supply-demand impact from the secondary offering.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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