Subscribe to RSS feedK Line shares up sharply as price is set for offer
by
Keith Wallis, Hong Kong
—
last modified
Mar 15, 2010 09:29 AM
SHARES in Kawasaki Kisen Kaisha surged nearly 3.5% last week after the Japanese shipping line set the price for a major share offer involving 126.5m shares that will raise up to ¥38.1bn (US$418.9m).
The forecast net proceeds are higher by about ¥3.5bn than the ¥34.6bn that K Line initially anticipated would be generated when it announced the offer on February 12.
The windfall reflected the increase in K Line’s share price in the...
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