Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Tokyo  >  Toshiba Corp    6502   JP3592200004

News SummaryMost relevantAll newsSector newsTweets

Landis+Gyr set to opt for IPO over straight sale of company: sources

share with twitter share with LinkedIn share with facebook
share via e-mail
07/17/2017 | 06:13pm CEST
The logo of Swiss-based meter maker Landis+Gyr is seen at an office building in the Swiss town of Zug

Landis+Gyr is almost certain to opt for a planned public listing of its shares instead of a straight sale of the company, three sources familiar with the matter told Reuters.

The Swiss smart meter maker, majority-owned by Japan's Toshiba, had pursued a "dual track" approach of preparing for an initial public offering (IPO) while leaving the door open for an outright sale.

However, the company now appears set to go down the IPO track after the two final bidders for the company were not willing to match the price Toshiba expects to receive through the public listing, one of the sources said.

"Because of the strong demand there's a 99.9 percent chance the IPO will be completed," another source said.

The sources declined to be identified because they were not authorized to speak publicly on the deal.

A spokesman for Landis+Gyr said a simple sale of the company was still an option.

The IPO price range was set last week at 70 to 82 Swiss francs per share, giving a market value of between 2.1 billion francs and 2.4 billion francs ($2.5 billion).

A third source familiar with the matter expected the shares to sell in the top third of that range.

The shares are due to start trading on the SIX Swiss Exchange on July 21.

Toshiba is seeking to unload assets after warning its loss for the past year would balloon due to potential legal damages over a $1.3 billion accounting scandal and an increase in its now-bankrupt U.S. nuclear unit's liabilities.

(Writing by Joshua Franklin; Editing by Mark Potter)

By Oliver Hirt and Arno Schuetze

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on TOSHIBA CORP
07/20 TOSHIBA : Floyd Medical Center Delivers Reliable Cardiac Ultrasound Exams with N..
07/19 TOSHIBA : Stroke Center Optimizes Patient Care, Costs with Toshiba CT
07/19 Toshiba says it again is blocking Western Digital access to chip JV
07/19 Toshiba says it again is blocking Western Digital access to chip JV
07/19 TOSHIBA : resumes blocking Western Digital access to JV databases
07/19 TOSHIBA : Wins a Stay for Temporary Restraining Order on Toshiba's Database Shut..
07/18 TOSHIBA : Opens Integrated Hydrogen Application Center
07/18 TOSHIBA : shares jump by almost a fifth after Greenlight stake, court hearing
07/18 TOSHIBA : Updates on the Preliminary Injunctive Relief Brought by Western Digita..
07/17 TOSHIBA : Judge postpones decision on Toshiba flash memory sale
More news
News from SeekingAlpha
01:52p NIKKEI : Toshiba "probably" sticking with consortium for chip unit
07/25 Toshiba board meets tomorrow to consider Western Digital, Foxconn bids
07/24 Look Beyond The Storm Clouds Hovering Over Silicon Motion
07/19 WALL STREET BREAKFAST : More Record Highs For Equities?
07/19 Tesla Investors Swallow The Blue Pill
Financials ( JPY)
Sales 2017 5 185 360 M
EBIT 2017 -
Net income 2017 -952 759 M
Debt 2017 735 483 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 7,39
EV / Sales 2017 0,36x
EV / Sales 2018 0,24x
Capitalization 1 137 796 M
Duration : Period :
Toshiba Corp Technical Analysis Chart | 6502 | JP3592200004 | 4-Traders
Technical analysis trends TOSHIBA CORP
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 11
Average target price 241  JPY
Spread / Average Target -10%
EPS Revisions
Satoshi Tsunakawa Executive President & Director
Masayoshi Hirata Chief Financial Officer & Director
Naoto Nishida Senior Managing Executive Officer
Yasuo Naruke Director & Representative Executive Vice President
Kouichi Ikeda Independent Outside Director
Sector and Competitors
1st jan.Capitalization (M$)
TOSHIBA CORP0.78%10 158
3M11.66%119 084
SIEMENS0.39%115 957
DUPONT16.47%74 123