Honda Motor Plans to Offer Shares Worth Billions of Dollars
Provided by
Dow Jones
By Kosaku Narioka
Honda Motor plans to offer shares worth billions of dollars currently held by Japanese banks and insurers, as part of efforts to broaden its shareholder base and improve discipline over management.
The Japanese automaker said Thursday that it planned to offer 259.9 million shares held by Japanese banks and insurers. An additional 39.0 million shares may be offered, depending on demand, it said.
Honda said the offering price would be determined sometime between July 17 and July 22. Shares closed 3.0% higher at 1,791.0 yen ($11.08) on Thursday.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
July 04, 2024 03:17 ET (07:17 GMT)
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