JC Flowers to sell $700 mln worth of shares in Shinsei Bank [Reuters]
SHINSEI BANK LTD S/ADR (SKLKY)
NASDAQ:AMEX Investor Relations:
shinseibank.com/corporate/en/ir
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Source: Reuters
JC Flowers to sell $700 mln worth of shares in Shinsei Bank - Reuters 1 Min Read TOKYO, Aug 8 (Reuters) - Private equity investor JC Flowers & Co will cut its stake in Japan’s Shinsei Bank to less than 4%, according to a filing by the lender, selling shares worth around $700 million nearly two decades after one of Japan’s first buyout deals. The share sale will see the fund’s founder, J. Christopher Flowers, also sell down his personal stake in the lender, and exit the bank’s board, according to the filing. Flowers and other investors will sell as many as 45.6 million shares, including an over-allotment, to domestic and overseas investors. That would bring the JC Flowers & Co holding from 21.4% to 3.8% of outstanding shares. The sale price has not been set, but the shares are worth around 74.2 billion yen ($700 million) as of Thursday’s closing price of 1,627 yen. ($1 = 106.1100 yen) (Reporting by Junko Fujita; Editing by David Dolan and Muralikumar Anantharaman) All quotes delayed a
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