DeNA Sells Go Inc Shares in 36.6 Billion Yen Secondary Offering
DeNA (TYO:2432) sold over 16.1 million shares of Go Inc (TYO:581A) at 2,400 yen apiece through a secondary offering on Tuesday, following Go's Tokyo Stock Exchange Growth Market debut.The sale reduced DeNA's stake in the taxi-hailing app company to 4.99% from 25.75%, with proceeds totalling 36.6 billion yen, according to a Tokyo bourse filing on Tuesday.DeNA expects to record approximately 40.1 billion yen as equity in earnings of affiliates on a consolidated basis, and 35.3 billion yen as gains on share sales on a non-consolidated basis, for the fiscal year ending March 2027.Following this transaction, Go will no longer be accounted for as an equity-method affiliate of DeNA, though the company said its full-year earnings forecast remains unchanged pending further review.
