Genesis Technology To List On TSE 2nd Section On March 9
02-06-06 04:35 AM EST
TOKYO -(Dow Jones)- Genesis Technology Inc. (2473.TO), a Japanese semiconductor testing company, has received approval to list on the Tokyo Stock Exchange's Second Section on March 9, the bourse said Monday.
The company will offer 1.56 million shares to the public in its initial public offering. Of those, 900,000 are newly issued shares and 660,000 are shares currently held in private.
Nikko Citigroup, the lead underwriter of the offer, also has a green shoe option, allowing it to offer an additional 234,000 shares in the event of exceptional demand.
The company will conduct a book-building for the IPO shares from Feb. 22 to Feb. 28. The fixed offering price will be announced March 1.
The company will offer all the shares through the book-building method. Under that method, the underwriter gauges the degree of demand for the shares among institutional investors by accepting orders from fund managers, who indicate the number of shares desired and the price they are willing to pay.
The tentative price range will be announced Feb. 20.
The company expects to net Y1.65 billion from the IPO. Of the IPO proceeds, it plans to use Y1.52 billion for investment in plant and equipment and the remaining Y123.6 million for paying back loans.
For the current fiscal year through March 31, the company forecasts a parent pretax profit of Y1.01 billion, net profit of Y573 million, revenue of Y13.30 billion, an earnings per share of Y88.56 and a dividend of Y7.5.
Last fiscal year, the company posted a parent pretax profit of Y946 million, net profit of Y539 million, revenue of Y11.26 billion, an earnings per share of Y84.27 and a dividend of Y7.5.
-Tokyo Bureau, Dow Jones Newswires; 813-5255-2929
(END) Dow Jones Newswires
02-06-06 0435ET
Copyright (c) 2006 Dow Jones & Company, Inc.
