Business Services Industry
FUJITSU TO SELL AN ADDITIONAL 2.2 MLN FANUC SHARES.
AsiaPulse News, December, 2003
TOKYO, Dec 18 Asia Pulse - Fujitsu Ltd. (TSE:6702) announced Wednesday that it will sell just over 2.2 million shares of Fanuc Ltd. (TSE:6954), on top of secondary distributions of Fanuc shares in May and November.
The additional sale was triggered by Nikko Citigroup Ltd., which, as lead manager of the November distribution, elected to exercise a green shoe option allowing it to purchase more shares.
Fujitsu sold 11 million Fanuc shares in May and another 24 million in November. All told, the proceeds of the three sales will total close to 220 billion yen (US$2.04 billion).
The company will book extraordinary gains of roughly 117 billion yen on the transactions. But Fujitsu's earnings forecast for fiscal 2003 will not be affected by the additional...
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