IPOs & Markets
The move was expected after the conglomerate said this year it was making preparations for a listing.
Nissan had planned to take full control of the business before the sale to GSR, buying the combined 49 percent minority stake held by NEC Corp and one
The company will sell up to $1.1 billion in shares and have a market value of $3.3 billion.
INCJ will reduce its stake to 33.4 percent from 45.6 percent.
The Japanese company said it would retain a 30% stake in the unit, Fujitsu Connected Technologies, after the sale.
Asahi has said it would restructure its operations in Southeast Asia and China.
The buyout will be cancelled if Bain fails to buy a stake larger than 50.1%.
The sale - the first since its postal and financial giant’s mammoth IPO in 2015 which also raised about $12 billion - also comes in the wake of M&A
GSR Capital has reportedly agreed to pay Nissan a total of $1 billion for the deal.
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