Murakami-linked fund boosts stake in Japan’s Shinsei Bank

08-Dec-2021 Intellasia | Reuters | 5:02 AM Print This Post

A fund backed by activist investor Yoshiaki Murakami raised its stake in Japan’s Shinsei Bank (8303.T), the target of a $1.1 billion takeover bid by SBI Holdings Inc (8473.T).

The Murakami-linked City Index Eleventh fund has been steadily increasing its ownership in Shinsei. The fund along with S-Grant Corp and other investors now hold 9.16 percent from 8.14 percent previously, according to a regulatory filing on Tuesday.

Shinsei said last month it would cancel plans to introduce a poison pill defence aimed to block the takeover bid from online financial conglomerate SBI Holdings.


Category: Japan

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