Nippon Paper Industries Co. (TYO:3863) said its board agreed to sell its common shares in Lintec (TYO:7966) through a secondary offering as part of its review of its business portfolio and assets from the perspective of capital efficiency.
The Japan-based paper manufacturer said the share sale is part of measures outlined in its Medium-term Business Plan 2030, prioritizing balance sheet optimization, structural reforms, and profitability improvement.
The proceeds from the sale will be used to reduce interest-bearing debt and strengthen the soundness and efficiency of its financial base and improve capital efficiency.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments