April 30, 2009

Daiwa Sec To Launch a Tender Offer For Daiwa SMBC Capital

Daiwa Securities Group has announced that it will launch a tender offer for Daiwa SMBC Capital (formally NIF SMBC Ventures). The offering price is 563 yen per share, which is 30% higher than the average closing prices from the previous one month period. Daiwa SMBC Capital, a venture capital and buyout investment firm said in a separate announcement that it has agreed to the tender offer.Daiwa Securities Group currently holds a 46.2% stake in Daiwa SMBC Capital. The second major shareholder, Sumitomo Mitsui Banking Corporation, holds a 40% stake in the company. If the transaction is successful, Daiwa SMBC Capital will be delisted from the Tokyo Stock Exchange.

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