Japan’s K Line has announced plans for a ¥100bn ($680m) share buyback as it looks to boost investor returns.
The shipowner said it plans to buy back up to 35.2m shares, equivalent to 12.4% of its outstanding common shares by the end of March 2023.
Effissimo Capital Management and Mizuho Bank — two major shareholders — have agreed to sell their shares in K Line as part of the buyback in quantities roughly corresponding to their current shareholdings.
