Japan’s top venture capital firm, JAFCO Group Co Ltd, said on Thursday it would cancel a $300 million buyback, because its stock price had lately been lower than levels at which activist shareholders had agreed to tender their shares.
JAFCO had planned to buy back shares worth 42 billion yen ($301 million) through a tender offer to allow a group of shareholders backed by prominent activist investor Yoshiaki Murakami to exit their combined stake of 19.53%.
