The share sale is expected to exceed 9.8 trillion won
Funds to be raised through the sale of shares
Proceeds to be used for future investments and share buybacks
Japan's Seven & I Holdings, the parent company of the convenience store brand '7-Eleven,' plans to pursue the listing of its subsidiary operating convenience stores in the United States.
Local media such as Nihon Keizai Shimbun and Kyodo News reported on the 6th that Seven & I Holdings plans to conduct an initial public offering (IPO) of its U.S. subsidiary Seven-Eleven (SEI) after next year and sell part of its shares.
Southland was a company that operated 7-Eleven convenience stores before Seven & I Holdings. It was acquired in 1991 by Ito-Yokado, a Japanese retail company that operated convenience stores in Japan under a brand contract. The holding company Seven & I Holdings was established in 2005.
According to the reports, Seven & I Holdings plans to raise funds through the IPO process and use them for future investments or share buybacks as shareholder returns.
Additionally, Nikkei reported, "The amount from the share sale is expected to exceed 1 trillion yen (approximately 9.8 trillion won), and there is also an analysis that SEI's corporate value reaches 5 trillion yen."
Seven & I Holdings had previously received a takeover proposal from Canadian retailer ACT (Alimentation Couche-Tard), which operates the Circle K convenience stores, and pursued a response strategy led by the founding family, but it was eventually abandoned. Nikkei reported that the company is now seeking an independent survival strategy through management changes.
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