Tag: shares

TomTom shareholders set for 750 million-euro windfall

16th May 2019 | 0 Comments

TomTom is set to return roughly 750 million euros to its shareholders after the sale of TomTom Telematics to Bridgestone for 910 million euros closed in April 2019. According to the company, TomTom will return the money on 27 May, through a consolidation of shares. Telecom Paper reported that for every 16 shares, nine will remain, resulting in the repayment of 5.74 euros per remaining share. This is said to be equivalent to 3.22 euros per share, based on the number of outstanding shares before consolidation.

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Michelin announces 500 million euro share buyback plan

Michelin announces 500 million euro share buyback plan

9th April 2019 | 0 Comments

At an investor day held at the Michelin Group’s Almeria Test Center in Spain, managing general partner Florent Menegaux announced the launch of a new share buyback plan. Michelin is setting aside up to 500 million euros for this purpose between 2019 and 2023.

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Titan International to repurchase up to $25 million in shares

1st April 2019 | 0 Comments

The Board of Directors at Titan International, Inc. has authorised a share repurchase programme that allows up to US$25 million to be spent buying back the company’s common stock. A committee of directors – Maurice M. Taylor Jr., Paul G. Reitz and Mark H. Rachesky – has been appointed to supervise the repurchase programme.

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Kumho delisting from London Stock Exchange

18th March 2019 | 0 Comments

Kumho Tire plans to delist its shares from the London Stock Exchange (LSE) at the end of April 2019, according to South Korean company filings.

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Bridgestone buying back up to 14 million shares

15th February 2019 | 0 Comments

Bridgestone is set to buy back as many as 12 million of its shares at a fixed price of 4,195 yen per share, based on the closing price at the time of the announcement.

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Goodyear shares fall 12% after trading update

Goodyear shares fall 12% after trading update

16th January 2019 | 0 Comments

Goodyear’s share price fell 12 per cent after the company published a trading update with the US stock market Securities and Exchange Commission ahead of Detroit Motor Show presentation scheduled for 15-16 January 2019.

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Goodyear share price picks up, hedge funds back Goodyear

12th December 2018 | 0 Comments

Goodyear’s share price picked up by up to 1 per cent during early trading on 12 December 2018, having risen 0.56 per cent by the close of the previous session (up from $21.59 to $21.71). Considering that the value of these shares fell -8.70 per cent during the preceding seven-day period, and experienced a loss of -1.76 per cent over the past 30-day period suggests this is a significant uptick. In addition, when you compare this with the 1.5 per cent one-day drop all tyre majors experienced in October when Michelin warned that demand was softening, it appears that the share price is bouncing back.

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Kesoram to spin off Birla Tyres

5th December 2018 | 0 Comments

On 4 December Kesoram Industries Ltd (part of the BK Birla Group of Companies) announced its intention to demerge its Birla Tyres Ltd business. As a result, Birla Tyres will become a listed company with its own shareholders. The demerger is scheduled for 1 January 2019.

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Mitsubishi becomes Toyo Tire’s largest shareholder – collaboration to intensify

Mitsubishi becomes Toyo Tire’s largest shareholder – collaboration to intensify

1st November 2018 | 0 Comments

Through a new arrangement with Mitsubishi Corporation (Mitsubishi), Toyo Tire & Rubber (Toyo) aims to “survive and remain viable” during the “unprecedented transformation” currently occurring in the automotive industry. The two parties have entered into a business alliance agreement that involves Mitsubishi increasing its shareholding in Toyo from 3.05 per cent to 20 per cent. Toyo will issue Mitsubishi 26,931,956 new shares via a third-party allotment that will be paid in between 15 January and 28 June 2019. With this share acquisition, Mitsubishi becomes Toyo’s largest shareholder.

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Were communications issues behind premium tyremakers share price drop?

Were communications issues behind premium tyremakers share price drop?

31st October 2018 | 0 Comments

Michelin’s predictions that market demand has been tough and will continue to be sluggish till at least the end of the year (see “Michelin predicts significant slowdown in car and truck tyre demand“ for further details) sent shockwaves through the financial markets. Shares started off bad, falling 6 per cent in early Paris trading to a seven-year low, but continued downwards and were down more than 9 per cent by mid-afternoon to 89.54 euros. Ultimately, shares in tyre manufacturers dropped by as much as 10 per cent on the day (Friday 19th October 2018).

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Tyre manufacturer share prices fall as demand loses pressure

Tyre manufacturer share prices fall as demand loses pressure

19th October 2018 | 0 Comments

Shares in tyre manufacturers dropped by as much as 9 per cent on Friday 19th October 2018, following Michelin reports that third quarter demand was down and that it was not expected to improve in the fourth quarter. Shares fell 6 per cent in early Paris trading to a seven-year low, but continued downwards and were down more than 9 per cent by mid-afternoon to 89.54 euros.

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Goodyear raises common stock dividend

10th October 2018 | 0 Comments

The Goodyear Tire & Rubber Company approved an increase in the company’s quarterly common stock dividend to 16 cents per share from 14 cents per share in an announcement on 10 October.

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TVS Tyres participating in subsidiary rights issue

TVS Tyres participating in subsidiary rights issue

23rd August 2018 | 0 Comments

TVS Srichakra Limited (TVS Tyres) has disclosed its intention to participate in the rights issue offered by its wholly owned subsidiary, TVS Srichakra Investments Limited (TVSSIL). In a notification sent to the BSE today, the Indian tyre maker said it would participate to the extent of its entitlement, which is 409,780 shares for a consideration of Rs 59.9 million (£663,700).

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Doublestar back in pole-position for Kumho purchase

Doublestar back in pole-position for Kumho purchase

5th March 2018 | 0 Comments

Having previously been ruled out of the running to buy Kumho Tire, Qingdao, China-based manufacturer Doublestar Tire is once again in pole-position to buy the South Korean tyremaker. “Doublestar Tire is the best option in view of a fast restoration of Kumho Tire and its corporation in China and the minimization of our losses”, Kumho’s creditors said in a widely reported statement.

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Vietnam Rubber Group announces IPO

29th January 2018 | 0 Comments

Vietnam Rubber Group (VRG), a state-owned business and country’s largest rubber producer/exporter, is scheduled to launch an initial public offering (IPO) on 2 February 2018 with shares being listed on the Ho Chi Minh Stock Exchange in June or July.

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