Offering of Subisidiary Share
June 16 2003 - 5:05AM
UK Regulatory
RNS Number:3506M
NEC Corporation
16 June 2003
June 16, 2003
NEC Corporation's intended Japanese offering of NEC Electronics Corporation
shares owned by NEC Corporation in conjunction with the listing of NEC
Electronics Corporation on the Tokyo Stock Exchange
On June 16, 2003, the Tokyo Stock Exchange approved the application for listing
of the shares of NEC Electronics Corporation (profile as below), a
subsidiary of NEC Corporation, on the Tokyo Stock Exchange.
NEC Corporation intends to offer to sell a portion of the NEC Electronics
Corporation shares owned by NEC Corporation and we hereby inform you of the
outline of the intended offering within Japan as follows:
Description
1. Summary of Intended Offering
(1) Selling Shareholder NEC Corporation
(2) Shares to be Offered Common stock of NEC Electronics Corporation
(3) Number of Shares to be Offered 10,500,000
(4) Offering Price To be determined
In addition to the above offering, the representative of the Japanese
underwriters may over-allot up to an additional 3,000,000 shares of NEC
Electronics Corporation's common stock, which will be lent to the
representative of the Japanese underwriters by NEC Corporation. In
connection with the offering of the over-allotted shares, NEC
Corporation will grant the representative of the Japanese underwriters
the right option to purchase up to an aggregate of 3,000,000 additional
shares of NEC Electronics Corporation's common stock (Over-allotment
Option).
2. Others
At its board meeting held today, NEC Electronics Corporation decided to issue
23,500,000 new shares in conjunction with the listing.
Not to be circulated in the United States. This material is not an offer of securities for sale in the United States.
The securities described in this material may not be offered or sold in the United States absent registration or an
exemption from registration. Public offerings of securities made in the United States must be made by means of a
prospectus that contains detailed information about the company and management, as well as financial statements.
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Attachment
Profile of NEC Electronics Corporation
1. Company Name NEC Electronics Corporation
2. Location of the Head Office 1753, Shimonumabe, Nakahara-ku, Kawasaki, Kanagawa,
211-8666, Japan
3. Establishment November 1, 2002
4. President Kaoru Tosaka
5. Capital 50 billion yen
6. Business Research and development, manufacturing, sales and
services of semiconductors (except for general-purpose
DRAMs)
7. Number of Employees Approximately 24,000 (Japan – 19,000, Overseas &
ndash; 5,000)
***
Not to be circulated in the United States. This material is not an offer of securities for sale in the United States.
The securities described in this material may not be offered or sold in the United States absent registration or an
exemption from registration. Public offerings of securities made in the United States must be made by means of a
prospectus that contains detailed information about the company and management, as well as financial statements.
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Contacts:
Diane Foley
Corporate Communication Division
NEC Corporation
TEL: +81-3-3798-6511
This information is provided by RNS
The company news service from the London Stock Exchange
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