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