Japan's Recruit Holdings shareholders to sell up to $4 bln in stock

TOPPAN Holdings

30/11/2020 07:10

TOKYO, Nov 30 (Reuters) - Japan's staffing agency Recruit
Holdings Co Ltd  6098.T  said on Monday its shareholders will
sell 416.8 billion yen ($4 billion) worth of shares in the
company to overseas investors.
    The shareholders, which include Dentsu Group Inc  4324.T ,
Toppan Printing Co  7911.T  and Japanese television networks,
will sell as many as 94.7 million shares in Recruit, or 5.59% of
its outstanding shares, Recruit said in a statement.
    The selling price will be decided either on Dec. 2 or Dec.
3.
    Recruit also said it would buy back 70 billion yen worth of
shares, or as many as 20 million shares, from the market to
boost shareholder value.
    
 ($1 = 103.8800 yen)

 (Reporting by Junko Fujita; Editing by Shounak Dasgupta)
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