Jun 7, 2011

TEPCO Is Facing The Possibility Of Delisting!

Posted by coolcoolbird at Tuesday, June 07, 2011

On 6 June 2011...
TOKYO: Tokyo Electric Power Co should go through a court led restructuring similar to Japan Airlines, the head of the Tokyo bourse was quoted as saying, sending the utility's stock tumbling to a fresh low on the possibility of a delisting. (From http://biz.thestar.com.my/news/story.asp?file=/2011/6/7/business/8847986&sec=business)

On 7 June 2011...
Tokyo Electric rallied 4.4 percent to 216 yen after Chief Cabinet Secretary Yukio Edano said the power company’s liquidation should be avoided to protect victims of the disaster entitled to compensation. Edano was responding to comments yesterday by Tokyo Stock Exchange President Atsushi Saito, who said Tokyo Electric should be put into bankruptcy protection. (From http://www.bloomberg.com/news/2011-06-07/japan-stocks-swing-between-gains-losses-as-tepco-rebounds-exporters-slip.html)

The Nikkei was supported by TEPCO, which rose on an announcement by chief government spokesman Yukio Edano that it should avoid bankruptcy proceedings to ensure compensation to people affected by its crippled nuclear power plant.  (From http://business.inquirer.net/3504/asian-markets-mostly-lower-as-us-fears-persist)



Will it rebound or going to have another sharp dive?
I'll keep on holding it, at least for short term...




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