Nakayama Steel Works (TYO:5408) said it completed the third-party allotment of new shares and treasury shares to Hanwa (TYO:8078) and Yodoko (TYO:5451), raising 8.7 billion yen, according to a Tokyo bourse filing on Friday.
The Tokyo-listed company said it has issued 5.7 million new shares and disposed of 7.4 million treasury shares, for a total of 13 million shares.
Following the allotment, Hanwa became an affiliate, and Yodoko became a major shareholder of the steelmaker.
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