Nippon Paper Industries announced that it will sell all approximately 20 million LINTEC shares it holds. It is expected to recognize an extraordinary gain in the fiscal year ending March 2027.
Nippon Paper Industries announced plans to sell all approximately 20 million LINTEC shares it holds. Sale proceeds are expected to amount to approximately ¥110 billion, and the company plans to recognize an extraordinary gain in the fiscal year ending March 2027.
The sale will take the form of a secondary offering, with an initial offering of 17.09 million shares. The sale price will be determined based on closing prices from 1 to 3 September. Depending on supply and demand, an additional offering of up to 2.56 million shares may be made through an over-allotment.
The lead manager is Mizuho Securities, and LINTEC will no longer be an equity-method affiliate of Nippon Paper Industries. The ownership structure of LINTEC will change following the sale.
Nippon Paper Industries is LINTEC's largest shareholder, with an ownership stake of approximately 30%. The sale may also affect LINTEC's total number of issued shares and its supply-demand structure.
Meanwhile, LINTEC announced a share buyback of up to ¥30 billion. The acquisition period is from the 24th to the 26th, and the limit is 6.91 million shares, equivalent to 10.6% of the total number of issued shares.