Nippon Denki Engineering plunged on concerns that the secondary offering would worsen supply-demand conditions. As of 12:55 p.m., it was at ¥2,184, down ¥360 from the previous day, or 14.2%, and fell to ¥2,169 amid a four-day losing streak.
Nippon Denki Engineering’s share price fell sharply to ¥2,184 as of 12:55 p.m., down ¥360 from the previous day, or 14.2%. The share price temporarily fell to ¥2,169, marking a fourth consecutive day of declines.
Concerns about worsening supply-demand conditions have spread following the announcement of the secondary offering, drawing investors’ attention. Selling has been prevailing in the market’s reaction.
According to reports, the article does not provide details on the expected timing or specific terms of the offering, but suggests that the sharp share-price decline could persist.