Japan's Shinsei Bank Ltd. on Aug. 20 announced the pricing of a secondary offering, which involves the sale of up to 43,535,000 common shares of the bank by U.S.-based private equity firm J.C. Flowers & Co. LLC and certain other shareholders.
The offering, including an overallotment options, was priced at ¥1,387 per share, for a total offer price of ¥60.38 billion.
The shareholders include J.C. Flowers' Saturn IV Sub LP fund and its founder J. Christopher Flowers, as well as Saturn Japan III Sub CV, Saturn Japan II Sub CV, and Thierry Porté, Managing Director of J.C. Flowers and the former CEO of Shinsei Bank.
Saturn IV Sub LP fund will no longer be the bank's largest and principal shareholder following closing of the offering, which is scheduled to be settled Aug. 27.
As of Aug. 19, US$1 was equivalent to ¥106.55.
