Toyota Motor Corporation ¥500 billion model AA class share offer

Overview:

• Toyota Motor Corporation has offered ¥500 billion in model AA class shares.
• Model AA class shares provide voting rights but are not transferable. After five years the shares are convertible into common shares or redeemed.
• The deal represents the first time class shares have been offered to retail investors in a public offering.
• Nomura Securities acted as underwriter.
• The company undertook the offer in part to diversify its shareholder base.

Sam Duke - Editor