The OSE aims to purchase more than two-thirds of outstanding Jasdaq shares from the JSDA
and other shareholders, sources familiar with the matter said earlier.
Last October, the JSDA
has fined BNP Paribas JPY100m for covering up key information relating to the Urban transaction.
The operator of the Osaka Securities Exchange is now in final talks with the JSDA
to set the corporate value of Jasdaq at around 7 billion yen, they said.
has argued that the Jasdaq Securities Exchange is worth more than 10 billion yen as its corporate value should be computed by adding the brand's value to its net assets.
If the price-setting procedure (for Jasdaq shares) goes smoothly, I think it could finish around that time at the earliest,'' JSDA
Chairman Toshio Ando said at a news conference.
said its special committee will hold meetings when a rough idea of the number of Jasdaq shares to be sold and the price is set.
will hold an ad hoc committee Monday, as scheduled, and is expected to decide to sell a stake of at least 50 percent in Jasdaq to the OSE operator.
But a senior JSDA
official questioned whether the Osaka bourse should take the lead in realigning stock markets for start-ups by acquiring a majority interest in Jasdaq.
The operator of the Osaka bourse formally decided earlier in the day to enter into negotiations with the JSDA
Some Jasdaq officials initially opposed the idea that the JSDA
sell Jasdaq shares to the Osaka bourse operator, but the latest decision, made at an extraordinary Jasdaq board meeting earlier in the day, is expected to accelerate talks on the Jasdaq-OSE integration.
to project jobs at the Jasdaq stock market operator when proceeding with talks over sales of its stake in Jasdaq to the Osaka bourse operator, JSDA
Chairman Toshio Ando said Wednesday.
began talks with the OSE late last year to dispose of its stake in Jasdaq.