Skadden, Sullivan & Cromwell on Japanese Recruitment Giant's $3.3B Share Sale
Tokyo-listed Recruit, one of the largest staffing agencies in the world, raised $3.3 billion in a secondary offering.
September 24, 2019 at 04:07 PM
2 minute read
Skadden, Arps, Slate, Meagher & Flom and Sullivan & Cromwell have advised on a $3.3 billion share offering in Japan.
Tokyo Stock Exchange-listed Recruit Holdings Co. Ltd., one of the largest staffing agencies in the world and the biggest in Japan, raised $3.3 billion in a secondary offering.
Recruit sold about 7% of its total outstanding shares from 13 of its shareholders, which includes printing companies Toppan Printing Co. Ltd. and Dai Nippon Printing Co. Ltd., and trading house Mitsui & Co. Ltd. The issuer said in a statement that the secondary offering is to facilitate the sale of the company's common stock in a coordinated manner and expand its shareholder base globally.
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