Nintendo (TYO:7974) will conduct a secondary offering of 32.7 million shares of its common stock, as part of a sale by existing shareholders, according to a Friday filing on the Tokyo Stock Exchange.
The offering will be carried out through underwriters, with the price to be determined between March 9 and March 12, based on the closing price of Nintendo's shares on the Tokyo Stock Exchange during the pricing period, subject to a discount of between 0% and 10%.
The shares will be sold by several shareholders, including The Nomura Trust and Banking (MUFG Bank, Ltd. Retiree Allowance Trust Account), Bank of Kyoto, DeNA, and Resona Bank.
In addition, the company said up to 4.9 million shares may be offered through an over-allotment option to meet investor demand.
Separately, Nintendo's board resolved to repurchase up to 14 million shares, or shares worth up to 100 billion yen, whichever comes first, and to cancel all shares repurchased.
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