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Article: SPIKE IN JAPAN PUBLIC SHARE OFFERINGS MAKING INVESTORS NERVOUS.
- Article from:
- AsiaPulse News
- Article date:
- September 3, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, Sept 3 Asia Pulse - A string of Japanese firms announcing public offerings of new shares are raising concerns that supply-demand conditions could deteriorate.
Elpida Memory Inc. (TSE:6665) said Tuesday evening that it will issue new stock to raise capital. The following day, its shares briefly went limit-down , shedding 300 yen, or 20 per cent, to 1,237 yen. The stock closed down 16.4 per cent.
The announcement surprised many investors because the semiconductor maker had only just issued preferred stock to the Development Bank of Japan. Given that its price had been on an upward trend since July, the stock was swamped ...