RealTime IT News

Oracle Japan to List on Tokyo Stock Exchange

Simultaneous to its renewed effort to capture the European market, Oracle Corp. Tuesday said its Japan subsidiary will float 9.7 million shares on the First Section of the Tokyo Stock Exchange.

The stock offering is scheduled for April 28, and will reduce Oracle's control of the company by as much as 26 percent. Oracle (ORCL) will indirectly sell 8.6 million shares of the subsidiary to comply with TSE1 ownership regulations.

Oracle Japan closed down ¥200 today at ¥96,500 ($903), and while the offering price has not yet been set, the current value of the 9.7 million shares would be $8.8 billion.

Previously, Oracle Japan was traded on the Japan OTC, where it launched its IPO in February 1999.

Oracle is in the midst of a massive push to lure European customers, accompanied by the regional release of its products and euro-specialized versions of its applications. Starting out with a barrage of announcements at its Applications User Conference Europe in Paris, the company is focusing its ebusiness efforts overseas.

Earlier this month, Oracle also teamed with Cable & Wireless HKT to form a Web-based, China-targeted B2B alliance.