Sumitomo Mitsui Construction to Delist After Share Consolidation

MT Newswires Live11-18

Sumitomo Mitsui Construction (TYO:1821) will be delisted from the Tokyo Stock Exchange following a shareholder-approved plan for an extreme share consolidation.

The consolidation will convert 50 million existing shares into a single new share, reducing the total number of issued shares to just three from nearly 156.9 million.

This move is part of a transaction to make INFRONEER the company's sole shareholder and take the company private, according to its Tokyo bourse filing on Tuesday.

The stock will be designated for delisting starting Tuesday, Nov. 18, with its final trading day scheduled for Dec. 18.

The consolidation is scheduled to take effect on Dec. 23.

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