Infroneer's ¥147.2 Billion Share Sale to Fuel Debt Repayment

Infroneer, a Japan-listed infrastructure manager, has approved a share sale that could raise up to 147.2 billion yen.

The company plans to use most of the cash to pay down acquisition-linked short-term debt of 117 billion yen, effectively replacing temporary funding with permanent equity.

Infroneer will issue 47.8 million new shares, selling part in Japan and the rest overseas, which broadens its investor base but also increases the share count.

The company is arranging a secondary sale of up to 7.17 million shares via a lending setup with shareholder Hikarigaoka to place stock with buyers without dumping shares directly into the market all at once.