NEC Corp. will sell part of its stake in Nippon Electric Glass Co. in December 2004, reducing the size of its holding in the CRT glass maker to 25.2% from the current 35.3%. The proceeds of the sale h…
NEC Corp. will sell part of its stake in Nippon Electric Glass Co. in December 2004, reducing the size of its holding in the CRT glass maker to 25.2% from the current 35.3%. The proceeds of the sale have been factored into NEC“s earnings outlook made in October 2004. Furthermore, Nippon Electric Glass said on 3 December 2004 that it planned a 2-for-1 share split on 10 March 2005, for shareholders as of 20 January 2005. Share splits are used by companies seeking to improve liquidity and make themselves more attractive to individual investors.