This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Idemitsu Kosan to issue new shares, diluting founding family's stake

( July 3, 2017, 08:06 GMT | Insight) -- Idemitsu Kosan, a major Japanese oil company, plans to issue 48 million new shares, or 30 percent of its total shares outstanding, for 140 billion yen ($1.2 billion), the Nikkei newspaper reports. Idemitsu Kosan, a major Japanese oil company, plans to issue 48 million new shares, or 30 percent of its total shares outstanding, for 140 billion yen ($1.2 billion), the Nikkei newspaper reports. The issuance of the shares would reduce the stake held by the founding family, which opposes the company's planned merger with Showa Shell Sekiyu, to 30 percent or lower. That would make it possible for Idemitsu Kosan to carry out the merger, the report said, adding that the situation remained fluid. Idemitsu Kosan will use the money to pay back debt associated with last year's purchase of Showa Shell shares, and to invest in new operations, the newspaper reported. ...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login