Renesas Electronics Announces Determination of Selling Price and Other Matters

TOKYO — (BUSINESS WIRE) — June 12, 2017 — Renesas Electronics Corporation (TSE:6723, “Renesas”) announced that, with respect to the secondary offering of shares of common stock of Renesas announced on May 18, 2017 and May 31, 2017, the selling price and other matters have been determined today as set forth below.

1. Secondary offering of shares of Renesas (Japanese Secondary Offering by way of Underwriting and Purchase and International Secondary Offering)

(1)  

Class and Number of Shares to be Sold

 

403,148,000 shares of common stock of Renesas, which is the sum of (i) through (iii) below.

 

(i)

 

107,444,900 shares of common stock of Renesas to be underwritten and purchased by the Japanese underwriters in the Japanese Secondary Offering by way of Underwriting and Purchase.

(ii)

259,888,200 shares of common stock of Renesas to be underwritten and purchased by the international underwriters in the International Secondary Offering.

(iii)

A maximum of 35,814,900 shares of common stock of Renesas, which will be subject to the option to be granted to the international underwriters in the International Secondary Offering for purchase of additional shares of common stock of Renesas.

 
(2) Sellers and Number of Shares to be Sold

(i)

Shares to be underwritten and purchased by the Japanese underwriters in the Japanese Secondary Offering by way of Underwriting and Purchase as described in (1)(i) above:

  • Innovation Network Corporation of Japan - 95,306,600 shares
  • NEC Corporation - 4,722,700 shares
  • Hitachi, Ltd. - 4,078,600 shares
  • Mitsubishi Electric Corporation - 3,337,000 shares

(ii)

Shares to be underwritten and purchased by the international underwriters in the International Secondary Offering as described in (1)(ii) above:

  • Innovation Network Corporation of Japan - 222,382,200 shares
  • Hitachi, Ltd. - 12,602,400 shares
  • Mitsubishi Electric Corporation - 10,311,100 shares
  • Japan Trustee Services Bank, Ltd. (Re-trust of Sumitomo Mitsui Trust Bank, Limited / NEC Corporation pension and severance payments Trust Account) - 6,719,343 shares
  • NEC Corporation - 7,873,157 shares

(iii)

Maximum number of shares of common stock of Renesas, which will be subject to the option to be granted to the international underwriters in the International Secondary Offering for purchase of additional shares as described in (1)(iii) above:

  • Japan Trustee Services Bank, Ltd. (Re-trust of Sumitomo Mitsui Trust Bank, Limited / NEC Corporation pension and severance payments Trust Account) - 13,934,600 shares
  • Hitachi, Ltd. - 12,034,200 shares
  • Mitsubishi Electric Corporation - 9,846,100 shares
 
(3) Selling Price *1

825 yen per share

 
(4)

Aggregate Amount of Selling Price *2

332,597,100,000 yen

 
(5) Purchase Price *1

The purchase price in respect of the shares to be sold by Innovation Network Corporation of Japan
817.90 yen per share

 

The purchase price in respect of the shares to be sold by other sellers
806.43 yen per share

 
(6) Aggregate Amount of Purchase Price *2

328,754,532,176 yen

 

(7)

Subscription Period (for the Japanese offering)

From Tuesday, June 13, 2017 to Wednesday, June 14, 2017

 
(8) Delivery Date

Tuesday, June 20, 2017

 

Notes:

*1   The underwriters will underwrite and purchase the shares at the purchase price and make secondary offerings at the selling price.
*2 Assuming that the option described in (1) (iii) above will be exercised in full by the international underwriters.
 

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