Altaba confirms Yahoo Japan stake sale at ¥354/share

|By:, SA News Editor

Altaba (NASDAQ:AABA) confirms plans to exit its entire 1.36B-share stake in Yahoo Japan (OTCPK:YAHOY).

In an announcement, the company says it will sell its 1,363,531,700 shares to certain managers in connection with an offering at ¥354/share (about $3.184/share).

Shares closed in Tokyo at ¥371, meaning the offering comes at a 4.6% discount.

The shares are expected to be delivered on Friday.

Altaba will use proceeds to repurchase its own common stock and for general purposes.

Today: AABA -1.6%, OTCPK:YAHOY -0.4%.

Previously: Altaba to sell entire stake in Yahoo Japan (Sep. 10 2018)

Subscribe for full text news in your inbox