TOKYO, May 01 (Pulse News Wire) – Shinto Holdings,inc. (2776.T) announced today that its board of directors approved the transfer of seventh tranche subscription rights originally allocated to Daizu (Hong Kong) Industry Co., Ltd.
To Blue Coast Capital Limited. The company initially issued 1,800,000 shares worth of subscription rights to Daizu (Hong Kong) Industry Co., Ltd. However, due to changes in external conditions affecting profitability and market dynamics, the exercise of these rights became challenging. After discussions, Daizu proposed transferring the remaining 1,159,000 subscription rights to Blue Coast Capital Limited. Following thorough compliance checks and confirmation of Blue Coast's financial capability, SHINTO Holdings agreed to the transfer.
Blue Coast confirmed its intention to exercise the rights promptly based on market trends and stock price levels. The transfer details are as follows: - Transferring party: Daizu (Hong Kong) Industry Co., Ltd. - Recipient: Blue Coast Capital Limited - Number of rights transferred: 1,159,000 (equivalent to 1,159,000 ordinary shares) - Price per right: ¥247 - Approval date: May 01, 2026 - Expected transfer date: May 11, 2026 Blue Coast Capital Limited, headquartered in Fotan Shatin, Hong Kong, operates in trade and plastic recycling businesses. It was established on July 26, 2024, with a capital of HKD 10,000. This transaction is expected to facilitate the progress of exercising the subscription rights and enhance SHINTO Holdings' fundraising efforts.
Further details on the issuance of the subscription rights can be found in the company's previous disclosure dated October 30, 2024.
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