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DMG Mori Plans 48.2 Billion Yen Share Offering to Fund Expansion

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DMG Mori (TYO:6141) has resolved to launch a 15-million-share international offering, with estimated net proceeds of 48.2 billion yen, according to a Tokyo bourse filing on Wednesday.

The funds will be allocated to capital expenditures at its Nagaoka and Poland plants, a new R&D and Solution Center in Chicago, enhanced production of key components, and 10 billion yen in reserve for future M&A opportunities.

The offering will be priced through a bookbuilding process at a discount of 0-10% to the closing price on the pricing date, with payment due Aug. 27 and delivery on Aug. 28, and no underwriting fees will be paid to the underwriters.

Major shareholder Masahiko Mori and the company have agreed to a 180-day lock-up period following the delivery date, while no stabilization transactions will be conducted in connection with the offering.

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