TOKYO, May 22 (Pulse News Wire) – Uridoki Inc. (418A.T) canceled its planned off-market share sale on Monday, May 22, due to technical difficulties with the N-NET system operated by Nagoya Securities Exchange.
According to the company's announcement, Uridoki had intended to proceed with the sale as previously disclosed on May 14 and confirmed on May 21. However, the inability to input orders through the N-NET system forced the cancellation. The shares were set to be sold at a price of ¥1,069 per share, with a limit of 1,000 units per buyer, subject to a minimum trading unit of 100 shares. In response to the issue, Uridoki stated that it is currently awaiting a report from Nagoya Securities Exchange regarding the cause of the malfunction.
Following receipt of the report, the company will coordinate with the exchange and related securities firms to determine future steps and promptly inform stakeholders. The initial plan outlined on May 21 included selling 150,000 shares with the aim of improving distribution, expanding shareholder base, and enhancing liquidity. Additionally, the CEO’s intention to exercise stock options and sell some shares to secure funds was also part of the rationale behind the proposed sale. Despite the cancellation, the CEO remains committed to long-term value enhancement through continued major shareholder status post-sale.
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