Tokyo Gas Shares Jump Most Since 1987 After Elliott Report [Yahoo! Finance Canada]
TOKYO GAS CO LTD UNSP/ADR (TKGSY)
NASDAQ:AMEX Investor Relations:
tokyo-gas.co.jp/ir/english/library/earn_e.html
Company Research
Source: Yahoo! Finance Canada
Most Read from Bloomberg The fund has acquired 5.03% of Tokyo Gas, it said in a filing to Japan's finance ministry on Tuesday. The activist investor believes the company should sell properties and real estate projects, including the Park Hyatt Tokyo hotel, that could be worth as much as 1.5 trillion yen ($9.7 billion) combined, according to a person familiar with the matter. The surge in the share price was the most on an intraday basis since 1987. The stock was trading up 12% at 4,291 yen as of 10:53 a.m. in Tokyo. Activist funds have been campaigning to unlock hidden value in Japanese companies. Elliott has built stakes in Sumitomo Corp., SoftBank Group Corp. and real estate developer Mitsui Fudosan Co. this year, but this is the first time its bought more than 5% of one of the country's companies since 2019. Tokyo Gas is Japan's biggest provider of the fossil fuel, with around 30% of the domestic market. The company produces and imports liquefied natural gas, and has a ret
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News
- Elliott’s Tokyo Gas property push should not get Lost in Translation [Financial Times (FT.com) (UK)]Financial Times
- 7-Eleven owner and Tokyo Gas shares jump on deal reports [Financial Times (FT.com) (UK)]Financial Times
- Corporate Shakeups Light Up Tokyo Bourse on Down Day for Stocks [Yahoo! Finance]Yahoo! Finance
- Tokyo Gas shares surge after activist investor Elliott takes stake [Yahoo! Finance]Yahoo! Finance
- Tokyo Gas Shares Jump Most Since 1987 After Elliott Stake Report [Yahoo! Finance]Yahoo! Finance