According to Kyodo News, Toshiba, which was in the restructuring period, officially launched the bidding process for the split semiconductor business on the 3rd. In order to obtain the first round of quotation of the shares has entered the final stage, due to the sale of less than 20% of the shares, some companies intending to participate in the bidding camp have a wait-and-see mood, whether Toshiba can become confusing as scheduled.
Toshiba will split the semiconductor main product "flash memory" business to establish another company. 19.9% ​​of the shares are expected to sell between 200 billion and 300 billion yen (about RMB 12.1 billion to 18.2 billion). Toshiba’s US nuclear power business is expected to lose up to 700 billion yen, a move designed to avoid falling into insolvency.
As less than 20% of the shares are almost impossible to participate in the operation, in addition to the original intention of bidding, Canon said that it will not invest, but also related to the fund said that "conditions are too bad", may also allow Toshiba to attach conditions such as increased share transfer.
If Toshiba is insolvent at the end of March at the end of the fiscal year, its shares will fall from the main board of the Tokyo Stock Exchange to the second board. The split business needs to be approved at the extraordinary general meeting in late March. Due to limited time, intense coordination efforts may continue.
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