GS Yuasa to Raise 36.7B Yen by Stock Issue

GS Yuasa announced on Monday the firm increases capital by public offering of stock and allocation of new stock to third party for capital expenditure for lithium-ion battery for hybrid car and battery vehicle. The firm plans to raise 36.7 billion yen.

GS Yuasa places 40 million shares by public offering and 6 million by allocation to Nomura Securities. The new placed shares are equivalent to 12.5% of total outstanding stock volume. The firm would decide offering price between 21 and 24 July. Lead manager is Nomura Securities. The term for purchase is until 2 business days after the price decision. The firm issues 1,000 shares as a block. GS Yuasa’s stock closed at 755 yen per share on Tuesday.

GS Yuasa plans 75 billion yen of capital expenditure in medium-term management plan ending March 2013, of which 50 billion yen is spent for lithium-ion battery business of subsidiaries.