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Nippon Active Value Fund PLC - Japan-focused investment firm - announces a tender offer for T&K TOKA Co Ltd to begin on January 10. The offer, made in conjunction with Hikari Acquisition KK and Michael 1925 LLC is for up to 4.9 million shares at JP¥1,300 per share. Toka is a manufacturer of ink, resin and associated products. The tender is conditional on at least 4.0 million shares being tendered, with the maximum being 4.9 million shares. The offer will end on February 20 2023, as of September 30 last year, Toka had 22.4 million shares in issue. Nippon is set to purchase 59.3% of the shares, while Michael 1925 will purchase 29.5% and Hikaru 11.2%.
Current stock price: 123.00 pence, up 2.5% on Friday
12-month change: down 8.2%
By Harvey Dorset, Alliance News reporter
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