SBI Holdings (TYO:8473) subsidiary SBI Financial Services now holds 12.23% of the voting rights in SBI FinTech Solutions following a tender offer for shares and Korean Depository Receipts, according to a Wednesday filing with the Tokyo Stock Exchange.
Despite offering 5,000 won per share and KDR, no common shares were tendered in Japan, though 2.8 million KDRs were purchased in Korea.
SBI Holdings retains 77.48% in the target. The company plans to continue efforts to make SBI FinTech Solutions a wholly-owned subsidiary, with potential further acquisitions and delisting of KDRs.
Price (JPY): $4010.00, Change: $-33, Percent Change: -0.82%
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