Aozora Bank Jumps Most Since 2012 After Activist Reports Stake [BNN Bloomberg (Canada)]
AOZORA BANK LTD UNSP/ADR (AOZOY)
NASDAQ:AMEX Investor Relations:
aozorabank.co.jp/english/ir
Company Research
Source: BNN Bloomberg
The shares jumped as much as 18%. City Index Eleventh reported a 5.42% stake in the company, according to a filing to Japan's Finance Ministry. Aozora Bank, which had been lending aggressively in the US, lost about a third of its market value earlier this month after saying it would have its first loss in 15 years because of bad loans tied to properties in the country. “Murakami's disclosure suggests two possibilities, the start of an activist campaign or a short-term trading play,” said Arun George, an analyst at Global Equity Research Ltd., who publishes on Smartkarma. A spokesman for Tokyo-based Aozora declined to comment. City Index Eleventh has taken stakes in other firm in Japan, boosting shares on expectations their profitability will improve. The Tokyo-based fund hasn't always been successful with its campaigns though. It sold most of its position in oil refiner Cosmo Energy Holdings Co. last year after failing to get the company to boost returns and consider spinning o
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News
- Activist Fund Targets Aozora, the Nikkei's Most-Shorted Stock [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Aozora Bank Jumps Most Since 2020 as Activist Builds Stake [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Aozora Bank Shares Jump After Activist Investor's Stake Buy [MarketWatch]MarketWatch
- Aozora Bank Jumps Most Since 2012 After Activist Reports Stake [Yahoo! Finance]Yahoo! Finance
- Japan's Aozora Bank Extends Gain on Plans to Resume Dividend [Yahoo! Finance]Yahoo! Finance