Hitachi Transport to issue preferred share to KKR, raise $975 million By Reuters

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Hitachi Transport to issue preferred share to KKR, raise $975 million

Stock Markets Jan 25, 2023 02:40AM ET

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Hitachi Transport to issue preferred share to KKR, raise $975 million

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TOKYO (Reuters) - Japan's Hitachi (OTC:HTHIY) Transport System Ltd said on Wednesday it would raise 127.2 billion yen ($975 million) by issuing a single preferred share to majority shareholder KKR & Co (NYSE:KKR).

It will also issue a second class of preferred share for 10 billion yen to KKR as an indemnity claim.

Hitachi Transport is due to be delisted on Feb. 24 after the U.S. private equity firm's successful tender offer for it.

($1 = 130.4600 yen)

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