-- Aditya Birla Real Estate (NSE:ABREL, BOM:500040) has an average rating of buy and mean price target of 1,913.25 Indian rupees, according to analysts polled by FactSet.
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Tokyo Kiraboshi Financial (TYO:7173) will convert all of its First Series Class I preferred shares into common shares and cancel the preferred stock, while conducting a secondary share offering to broaden its shareholder base, according to a Friday filing on the Tokyo Stock Exchange.Sumitomo Mitsui Trust Bank, which holds all 750,000 preferred shares in the company, will request conversion into 5.5 million common shares in two stages. Tokyo Kiraboshi will then cancel all preferred shares after the conversion process is completed.The lender also resolved to conduct a secondary offering of 5.5 million common shares held by Sumitomo Mitsui Trust Bank, alongside a possible over-allotment of up to 824,700 shares.The conversion and sale will result in changes to its major shareholders, Tokyo Kiraboshi said.Sumitomo Mitsui Trust Bank is expected to temporarily become the company's largest shareholder before reducing its stake through the share sale.
Marumae (TYO:6264) will issue new shares and conduct secondary share offerings to fund semiconductor and FPD production capacity expansion, consumables business investments, and debt repayment tied to its acquisition of KM Aluminum, according to a Friday filing on the Tokyo Stock Exchange.The company plans to issue 2 million new shares and dispose of 700,000 treasury shares through public offerings. It will also conduct secondary offerings totaling up to 1.4 million shares, including an over-allotment option.Marumae expects to use about 2 billion yen for production equipment and capital expenditures in its precision components business by August 2028, while 1.5 billion yen will go toward production equipment and factory renovations for its functional materials business.The remaining proceeds of about 2.35 billion yen will fund repayment of long-term borrowings by August 2027.The company said the offerings will also improve share liquidity and support efforts to meet TOPIX index selection criteria by increasing its free-float ratio.
Tokyo Kiraboshi Financial Group (TYO:7173) will receive a 43 billion yen dividend from consolidated subsidiary Kiraboshi Bank, according to a Friday filing on the Tokyo Stock Exchange.The dividend is scheduled to be paid on May 20 and will be recorded as operating income in the company's non-consolidated financial statements for the fiscal year ending March 2027.