Japan-based railway and hotel group Seibu Holdings Inc and top shareholder Cerberus Capital Management LP agreed on a Tokyo listing for the Japanese firm in April, according to sources familiar with the situation.
Tags: Tokyo Stock Exchange
Kumagai Gumi shares drop on new plans
Kumagai Gumi Co, a Tokyo Stock Exchange-listed Japanese construction firm, recorded hammering down of its shares. The stock suffered the most in over 13 years. The news that construction defects in a residential complex made Kumagai Gumi rebuild five apartments has hit hard shares and investors' confidence.
Nissan surges 12% most since 2009 on $3.5-bln buyback
Registering the highest since April 2009, Nissan Motor Co's stock surged 12 percent following its buyback news. Nissan has announced its plan to buyback $3.5 billion worth shares.
Dollar rising as Nikkei further moves up
US dollar against Yen is rising as renewed buying support is propelling Japan's Nikkei index upwards. The priority shift among some investors from traditional safety net of Japanese currency to equities was the major reason on Nikkei's rise. The market players are eagerly waiting for the outcome of G-20 meeting this weekend in Shanghai.
Qualcomm & TDK Form $3 billion Venture To Develop Smart Phones Using Radio Frequency Chips
Qualcomm Inc. and TDK group tie up to form a $ 3 billion project in Singapore. After completion of the venture by 2017, Qualcomm will own 51% of the new company with a provision to purchase TDK’s stake at a later time. Following the joint venture, Qualcom’s share price has fall a little but TDK share price has jumped by 5.5%, highest change within last two moths.
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An article on Bloomberg provided its observations on how the stock rally had influenced the increasing number of initial public offerings on the Japan bourse starting this year.
South Korean communication app maker Line would stand to be valued at USD8 billion should it go public, according to information technology news site The Next Web.
Investors were forced to short sell, or sell securities it does not own, due to the prolonged partial government shutdown.
Canon dimmed its profits and sales outlook as smartphone titans present gadgets that could capture high-quality photos.
Tokyo Stock Exchange Inc. President Akira Kiyota wanted to revive the Japanese markets by targeting more initial public offerings.
Asian stock became cautious while the European Central Bank held a summit and US payrolls report loomed.
Seibu Holdings Inc of Japan met with its top shareholder, Cerberus Capital Management LP last Friday along with two other big Seibu shareholders.
According to sources, Cerberus Capital Management LP and Seibu Holdings Inc would meet to discuss possible listing on the Tokyo Stock Exchange said on Friday.
Suntory Holdings is preparing for an IPO that is projected to be the largest in Japan to date. In what is projected as the largest initial public offer in Japan this year, Suntory Holdings Ltd is projecting to net as much as 476 billion yen or US$4.
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