CKD, Sumitomo Mitsui Trust Bank and Five Other Financial Institutions to Sell 3.57 Million Shares

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CKD announced on the 7th that it has resolved to sell 3,570,800 shares held by seven financial institutions, including Sumitomo Mitsui Trust Bank, Mitsui Sumitomo Insurance, and Sumitomo Mitsui Banking Corporation. The offering price will be determined on one of the days from the 19th to the 22nd, and the settlement date will fall on one of the days from the 26th to the 29th. In addition, the company decided to buy back up to 1.3 million of its own shares, equivalent to 1.94% of total issued shares, for a maximum of 5 billion yen. The acquisition period runs from the business day following the settlement date of the offered shares through December 30.

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CKD will sell 3.57M shares held by financial institutions while buying back up to 1.3M of its own shares, a mixed capital-markets event.