Socionext’s Major Holders Plan to Sell $2 Billion Stake Overseas

Socionext Inc.’s top shareholders including Panasonic Holdings Corp. plan offload their entire stake, selling almost $2 billion worth in the Japanese chip design firm in overseas markets.

Together with Fujitsu Ltd. and Development Bank of Japan Inc., the companies will sell about 12.6 million shares in Socionext as nine months have passed since the share’s listing, according to a filing by the recently listed chip firm. That represents about ¥277 billion ($1.95 billion), based on Wednesday’s closing price. The share offer will be priced as soon as July 11, the statement said.

Currently, the three companies hold more than 30% ...