 |
 |
 |
On October 8, 1996, stocks of West Japan Railway Co. were listed on the
Tokyo and Osaka Stock Exchanges. Sales and listing of stocks of the company
were made from the point of view of the early complete privatization of each
Japan Railway Company and repayment of the long-term debts, etc. of the Japan
National Railways Settlement Corporation. Sales and listing of West Japan Railway
Co. had been postponed in fiscal 1994 and 1995 due to the sluggish stock market
after sales and listing of stocks of East Japan Railway Co. in fiscal 1993,
effects of the Great Hanshin-Awaji Earthquake Disaster.
Sales of stock of West Japan Railway Co. were made by a new method in which
such improvements as (1) a great increase of the portion of stocks for bidding
and (2) bidding and sales to be carried out concurrently from the point of view
of alleviating the period risk by reducing the period for sales and making it
possible to decide the proper price of stocks for sales which have been made
in accordance with the report by the Council on the Disposition of Assets. As
a result, the proceedings for listing were completed in 78 days, shorter than
those for sales of stocks of East Japan Railway Co. by 20 days and 1,366 thousand
stocks could be sold.(Picture)
|
|
|