Daito Trust to acquire Ascot in tender offer

Daito Trust Construction (TSE:1878) announced the successful completion of its tender offer for Ascot Corp. (TSE:3264), leading to Ascot becoming a consolidated subsidiary effective March 26, 2025. Daito Trust acquired 129,972,900 Ascot shares, increasing its ownership to 96.17%. Consequently, Ascot shares will be delisted from the Tokyo Stock Exchange. Separately, Daito Trust plans a 5-for-1 stock split, effective October 1, 2025, to lower the investment unit price and broaden its investor base. This split will increase outstanding shares from 68,918,979 to 344,594,895. The company will adjust the exercise price of outstanding stock acquisition rights to reflect the split. Daito Trust intends to increase its authorized share capital from 329,541,100 to 1,647,705,500 shares. The company's stock split does not impact the company's 2025 fiscal year dividend payouts.