OSE to launch tender offer for Jasdaq from Wed.+
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[November 18, 2008]

OSE to launch tender offer for Jasdaq from Wed.+

(Japan Economic Newswire Via Acquire Media NewsEdge) OSAKA, Nov. 18_(Kyodo) _ Osaka Securities Exchange Co. said Tuesday it has formally decided to launch a tender offer Wednesday for Jasdaq Securities Exchange Inc. shares in an attempt to make the operator of the Jasdaq stock market for start-ups a subsidiary.



The operator of the Osaka Securities Exchange said it aims to buy a majority of outstanding Jasdaq shares for about 3.5 billion yen, or 7,000 yen per share, during the offer period, which is to expire Dec. 17.

The OSE decision came after the Japan Securities Dealers Association, which owns more than 70 percent of outstanding Jasdaq shares, said Monday it has agreed to sell a majority stake in Jasdaq.


Since about 130 securities firms which own Jasdaq shares are also expected to sell their holdings, the OSE will eventually seek to buy more than two-thirds of outstanding Jasdaq shares.

The Osaka bourse plans to integrate its computerized trading system with that of Jasdaq by fall 2009 before converting it into a wholly-owned subsidiary.

Copyright ? 2008 Kyodo News International, Inc.

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