Sumitomo Pharma Co.,Ltd. [4506.T]
TOKYO, May 22 (Pulse News Wire) – Sumitomo Pharma CO.,LTD. (4506.T) announced today that it has canceled its planned third-party equity issue due to insufficient subscription interest.
On April 08, the company's board had approved a plan to issue new shares through a public offering and an oversubscription allotment sale, alongside a private placement. However, SMBC Nikko Securities, the allottee, informed Sumitomo Pharma that it did not intend to subscribe to the allotted shares by the deadline of May 25. As a result, none of the originally intended 7,695,600 shares will be issued, leading to the cancellation of the entire third-party equity issuance process. The company stated that this decision was made based on the lack of interest shown by the allottee during the subscription period.
This announcement does not constitute an offer to sell securities nor is it intended to solicit investment. It is solely for the purpose of publicly disclosing the outcome of the third-party equity increase. Sumitomo Pharma has not registered its ordinary shares under the United States Securities Act of 1933 and does not intend to do so. Therefore, the company cannot make offers or sales of securities in the United States except in compliance with the registration requirements or pursuant to exemptions therefrom.
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