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Archion Sets Price Range for Toyota, Daimler Truck Share Sale

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Archion (TYO:543A) has set the price range for a secondary offering of shares held by Daimler Truck and Toyota Motor (TYO:7203), according to a Wednesday filing with the Tokyo Stock Exchange.

The indicative price range was set at 250 yen to 300 yen per share, with the final offer price to be determined between July 22 and July 27 based on investor demand.

The base offering consists of 787.9 million common shares, including 425.4 million shares to be offered in Japan and 362.4 million shares internationally. An additional 118.2 million shares may be sold through an over-allotment option. Share delivery is scheduled between July 29 and Aug. 3.

The offering follows media reports last week that Toyota and Daimler Truck plan to reduce their stakes in the truckmaker by selling shares valued at between 200 billion yen and 300 billion yen.

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