A Japanese company is to complete the countrys first
rights issue thanks to flexibility from the regulators. Demand
for this offering will dictate the success of future rights
issues in Japan.
On March 5, Takara Leben announced that it was undertaking a
¥5 billion ($54.3 million) rights issue. The subscription
rights will be listed on the Tokyo Stock Exchange on April 1
and will allow trading until May 24 2010.
The company is doing a rights issue to protect
existing shareholders from dilution that would happen if it did