Taiheiyo Cement surges amid lack of negative factors

Taiheiyo Cement surges amid lack of negative factors
Published: 13 September 2011

Shares of Taiheiyo Cement Corp rose on Monday afternoon as selling ran its course following the firm’s announcement of a capital increase, according to an official at a domestic brokerage.

Investors are now seeking stocks that are tied to domestic demand, as such issues have relatively less room to fall, the brokerage official added.

On Wednesday, Taiheiyo Cement announced plans to offer 121 yen per share through a public offering. The brokerage official said that all negative factors have disappeared, as short-selling aimed at lowering the offer price has come to an end.