ENEOS to Trim JX Advanced Metals Stake for 250 Billion Yen

MT Newswires Live05-11 16:59

ENEOS Holdings (TYO:5020) will tender part of its holdings in JX Advanced Metals (TYO:5016) through the subsidiary's planned treasury share buyback, in a transaction valued at about 250 billion yen, according to a Monday filing on the Tokyo Stock Exchange.

The energy group plans to tender 57.3 million JX Advanced Metals shares, lowering its ownership stake to 35.27% from 42.38%, the filing said.

The tender price will be set at a 10% discount to either the average closing price over the one-month period through May 8 or the May 20 closing price, whichever is lower. Based on an assumed price of 4,363 yen per share, the sale value would total about 250 billion yen.

ENEOS Holdings said it decided to proceed with the sale after reviewing capital strategy priorities tied to portfolio transformation and the energy transition. The company partially sold down its stake when JX Advanced Metals listed on the Tokyo Stock Exchange in March 2025, while retaining shares to maintain business ties and assess future options.

Assuming all tendered shares are purchased, ENEOS Holdings expects to book about 110 billion yen in operating profit in the fiscal year ending March 2027. The tender offer is scheduled to begin on May 21 and close on June 17, with settlement due to start on July 9.

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