Nippon Paint to issue $1 bln in new shares to Wuthelam unit
TOKYO Feb 3 (Reuters) - Japan's Nippon Paint Co said on Monday it will issue 60 million new shares worth 102.3 billion yen ($1 billion) to Nipsea International, a wholly owned unit of unlisted Singaporean paint maker Wuthelam.
The proceeds will be used to repay loans taken out to purchase shares in various joint ventures in Asia owned by Nippon Paint and Wuthelam, the company said. ($1 = 101.9850 Japanese yen) (Reporting by Chang-Ran Kim; Editing by Edmund Klamann)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Two dead, four wounded after student opens fire Washington state school
- U.S. officials considering quarantines for returning healthcare workers |
- Police say New York hatchet attack by Islamic convert was terrorist attack |
- 'We won't pay,' furious Cameron tells EU over surprise bill |