NIHON DENGI CO.,LTD. fell for a fourth straight day. Following the announcement of the secondary offering after the close on the 28th, an offering of approximately 3.85 million shares and an over-allotment of 570,000 shares are planned, raising concerns about a short-term deterioration in supply and demand. As of the latest update, the closing price was ¥2,169, down ¥341 from the previous day.
NIHON DENGI CO.,LTD. fell for a fourth straight day, closing at ¥2,169 on 29 September, down ¥341 from the previous day. The decline appears to have been triggered by the planned secondary offering announced after the close on the 28th, with selling leading the market amid deteriorating short-term supply and demand. Attention is focusing on the fact that the secondary offering price will be set on one of the dates from 6 to 9 October, with the subscription period beginning on the business day following the pricing date.
The offering comprises 3,852,600 shares in the secondary offering and 577,800 shares subject to over-allotment. The pricing date has not yet been finalized, and the subscription period is expected to begin on the business day following that date. Settlement is scheduled for the fifth business day after the pricing date, and short-term supply and demand may become more active.
In the stock market, views are spreading that the announcement of the offering will heighten tension in supply and demand. Some have pointed to the possibility of share price volatility depending on developments through the pricing date, although no specific investment recommendation is provided at this time. Attention will focus on further information, including the pricing date and trading developments.
The article was provided by Wealth Advisor and published as news on Yahoo! Finance.