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JAPAN'S SUMITOMO CORP SHAREHOLDERS TO SELL 46.5 MLN IN SHARES.
TOKYO, Jul 1 Asia Pulse - Six major Sumitomo Corp. (TSE:8053) shareholders plan to sell 46.5 million shares in the company, or 4.4 per cent of its outstanding shares, the major trading company said Friday.
Sumitomo for its part will sell 20-30 billion yen of its estimated 260 billion yen (US$2.17 billion) in cross-shareholdings.
The six major shareholders such as Sumitomo Life Insurance Co. and Sumitomo Mitsui Banking Corp. (TSE:8318) each plan to sell 2-15 million shares. The value of the sale is estimated at about 33 billion yen. The offering price will be ...
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Source: HighBeam Research, JAPAN'S SUMITOMO CORP SHAREHOLDERS TO SELL 46.5 MLN IN SHARES.