Two Mitsui Shareholders Raise $668 Million in Share Offering

Reuters

16:55 JST, June 25, 2024

TOKYO (Reuters) – Two shareholders of Japanese trading house Mitsui have raised 104.9 billion yen ($658 million) via a secondary share offering, the company said on Tuesday.

Mitsui Sumitomo Insurance Company Ltd and Sumitomo Mitsui Banking Corporation were offering 11,725,000 ordinary shares and 3,208,400 ordinary shares, respectively, or a total of 14,933,400 shares representing 1% of Mitsui shares.

The sale price was set at 7,025 yen per share representing a 5% discount to Monday’s close of 7,395 yen per share. Mitsui shares closed 0.69% higher at 7,446 yen per share.

$1 = 159.5000 yen