Home Stock & Shares Toshiba Corp.’s shares jump after Effissimo becomes its top shareholder

Toshiba Corp.’s shares jump after Effissimo becomes its top shareholder

by Paul

Toshiba Corp.’s shares jumped as much as 10 per cent after a hedge fund disclosed that it had become the embattled conglomerate’s biggest shareholder, fuelled by optimism that the company will be able to cope with a looming multibillion-dollar writedown from its Westinghouse nuclear-equipment business.

Effissimo Capital Management Pte held 8.1 per cent of Toshiba as of March 15, according to a regulatory filing Thursday, making it Toshiba’s top shareholder. The Singapore-based investor declined to comment. Toshiba shares were 8.2 per cent higher at the trading break in Tokyo on Friday.

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