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Shikoku Kasei Approves Secondary Share Offering of 4.76 Million Shares

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Shikoku Kasei (TYO:4099) has resolved to conduct a secondary offering of up to 4.76 million shares, primarily sold by Nisshinbo (TYO:3105), Taiyo (TYO:4626), and the lead manager.

The price of the secondary offer is based on a 0.90-1.00 multiplier of the Tokyo Stock Exchange closing price between Sept. 9 and Sept. 14, according to a Tokyo bourse filing on Tuesday.

A separate over-allotment option allows for up to 713,400 additional shares to be sold by the designated underwriter, subject to market demand, at the same price as the main offering.

Final pricing and offering details will be determined solely by President Mitsunori Watanabe, and the securities may not be offered or sold in the U.S.

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