Honda Motor Plans to Offer Shares Worth Billions of Dollars
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)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks