Hitachi, NEC seek to raise up to $2.1 bln through Renesas share sale (updated)

Renesas Electronics

25/01/2024 09:49

(Updates sourcing)
       Jan 25 (Reuters) - 
    Japan's Hitachi  6501.T  and NEC Corp  6701.T  are aiming to
raise up to $2.1 billion by selling their stakes in chipmaker
Renesas Electronics  6723.T , according to a term sheet seen by
Reuters.
        Hitachi and NEC will sell a combined 123 million Renesas
shares at an offer price range of 2,474 yen ($16.76) to 2,528
yen, the term sheet showed.
  
        The share sale will be at a discount of about 6%-8% to
Renesas's closing price on Thursday.
  
        Hitachi and NEC did not reply to Reuters' request for
comments, while Renesas declined to comment.
  


($1 = 147.6100 yen)

 (Reporting by Disha Mishra in Bengaluru; Editing by Rashmi Aich
and Varun H K)
 ((Disha.Mishra@thomsonreuters.com;))