Public shares of Toshiba Corporation are now going to be removed from the special Tokyo Stock Exchange list, according to Nikkei report on Wednesday.
Toshiba has been previously listed as “Securities on alert” list since the accounting scandal in 2015.
This decision of removal from the list will provide more exposure to Toshiba shares, the public and investors who were reluctant to invest in company’s share can now have confidence in the company.
However, Toshiba shares saw significant soaring in 2017 regardless of their shares listed on a special watch list, Nikkei also reported in June 2017 that major technology shares were low but Toshiba shares keep soaring. This was due to the deal Toshiba was going to make regarding its Chip business sale.
Toshiba now has finally decided to sell its chip business to Apple backed company for $18 billion, this deal will generate enough cash for Toshiba to reinvest in other business segments along with maximizing the shareholders’ value.
You can expect Toshiba share now gaining more momentum over the next few months after this development, Toshiba shares are expected to soar even further with the removal of shares from the special watch list of Tokyo Stock Exchange.