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Govt-backed INCJ, Others to Release Part of Renesas Shares

Govt-backed INCJ, Others to Release Part of Renesas Shares

   Tokyo, May 19 (Jiji Press)--Renesas Electronics Corp. <6723> has said that Innovation Network Corp. of Japan and other large shareholders of the major Japanese chipmaker will release up to 422.43 million shares in the firm, or some 25 pct of its total outstanding shares, next month.
   INCJ, which currently owns about 70 pct of Renesas, will release a 19.1 pct stake, judging that the firm's restructuring is now getting on track. After the sale, INCJ's stake will come to 50.1 pct.

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AFP-JIJI PRESS NEWS JOURNAL


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