Mexican Media Brands
Toyota Plans Special Share Sale to Fund R&D
Toyota Motor Corp. expects to sell as many as 150 million new "Model AA" shares to help fund new vehicle technologies, including fuel cell systems, Bloomberg News reports.
#economics
Share
Toyota Motor Corp. expects to sell as many as 150 million new "Model AA" shares to help fund new vehicle technologies, including fuel cell systems, Bloomberg News reports.
The unlisted shares are named after the company's first car. They eventually will replace as much as 500 billion yen ($4.2 billion) in common stock and sell at a premium of 20% or more.
Toyota says the special stock will pay dividends but carry transfer restrictions for about five years. After that period, holders may sell their shares back to the company at the original issue price or convert them into common shares.
Analysts say the scheme aims to lock in long-term funding and help stabilize individual investors. Toyota plans to sell about 50 million Model AA shares this summer. Future blocks of the stock will be offered once per year.
RELATED CONTENT
-
How to Build a Military Vehicle from a Pickup Truck
A real piece of military gear. A real pickup that you can get at a Chevy dealership. A really remarkable story.
-
On Ford Maverick, Toyota Tundra Hybrid, and GM's Factory Footprint
GM is transforming its approach to the auto market—and its factories. Ford builds a small truck for the urban market. Toyota builds a full-size pickup and uses a hybrid instead of a diesel. And Faurecia thinks that hydrogen is where the industry is going.
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.
