GMO Group Scraps $2 Billion Share Sale Plan of Its Internet Unit
The Japanese conglomerate GMO Internet Group Inc. canceled a planned share offering of one of its listed arms, citing current market conditions as reason.
The company had planned to sell 91.7 million shares of GMO Internet Inc. in what would have been a ¥284 billion ($2 billion) deal set to be priced as early as June 5. The parent will continue to consider options to meet the Tokyo bourse's listing criteria, it said in an exchange filing, without giving further details.
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