Source disclosure: January 29, 2026
KANDENKO CO.,LTD. [1942.T]
TOKYO, Jan 29 (Pulse News Wire) – Kandenko CO.,LTD. (1942.T) decided to sell shares to reduce Tokyo Electric Power's holding ratio to around 33.4%.
The sale aims to enhance operational flexibility and diversify shareholder base while improving stock liquidity. The company plans to issue ordinary shares totaling 22,771,400 through an underwriting buyout method. The selling price will be determined based on the closing price of Kandenko’s shares on the Tokyo Stock Exchange during the period from Feb 16 to Feb 19, multiplied by a factor of 0.90 to 1.00.
Nomura Securities, Mizuho Securities, and SMBC Nikko Securities will act as joint lead underwriters. Additionally, Kandenko resolved to repurchase up to ¥30.00 billion worth of its own shares, amounting to 7,500,000 shares, from Feb 2 to Feb 6, to mitigate potential impacts on share supply after the issuance. In conjunction with the share sale, Kandenko agreed to lock-up provisions preventing major shareholders from selling their shares for 180 days post issuance, enhancing stability during the transition.
AI-translated content. 🟢 Confidence: High See terms • Original filing