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Best Denki Co Ltd Announces Completion of New Shares Issuance to Yamada Denki Co Ltd; Announces Changes in Shareholding Structure

Thursday, 13 Dec 2012 01:00am EST 

Best Denki Co Ltd announced that it has completed the issue of 80,265,500 new shares of its common stock at the price of JPY 151 per share or JPY 12,120,090,500 in total, to Yamada Denki Co Ltd through a private placement, effective December 13, 2012. As a result, Yamada Denki has become parent company of Best Denki with 51.16% voting rights, up from 7.49%, while BIC CAMERA INC. ha become the second major shareholder of Best Denki with 7.98% voting rights, down from 15.12%, effective December 13, 2012. 

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