Nomura Holdings Inc has announced that it would lessen its exposure in Nomura Real Estate Holdings through a deal that will amount to US$577 million. This is a move designed to protect the holdings company when it goes through the wringer with newly imposed capital regulations.
Nomura would be selling off 32 million shares currently held by a subsidiary. The sale proceeds would amount to JPY53.3 billion based on the Nomura Real Estate share values at closing valued at JPY50.9%.
This would help the firm prepare for tougher global rules on capitalization levels, such as the implementation of the new Basel 3 regulations. Other moves include selling assets not considered as core businesses in its operations. One of these would be the sale of UK property company Annington Homes at GBP3.2 billion pounds.
The proceeds from these sales would free up more capital for the firm and become more liquid in the long run.
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