Japan’s Kokusai Electric to hold secondary offering; KKR to sell shares

TOKYO: Kokusai Electric said on Wednesday it would hold a secondary offering of up to 60.4 million shares, with investors including private equity firm to sell shares.

The secondary offering would be worth about 326 billion yen ($2.02 billion) including overallotment based on Wednesday’s closing price and follows a blistering run in the shares of the Japanese chip equipment maker.