Linkt stocks fall after shareholder exit
Shares of Lintel Corporation fell to their lowest level in three months after the company's major shareholders announced their intention to divest their entire stake, amidst trends among Japanese companies to divest non-core assets and improve capital efficiency. This move coincides with Nippon Paper Industries' plan to issue 17 million shares valued at a total of up to 98 billion yen (approximately 616 million dollars), with an additional option to allocate up to 2.6 million shares upon request. These actions aim to redirect liquidity and support governance improvement initiatives, while secondary offerings in the Japanese market reached their highest level in ten years, totaling 2.7 trillion yen this year.
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