IPS plans new share sale to fund Wakayama cable landing project, capping net proceeds at ¥5.49bn
IPS, Inc. will issue 1,263,500 shares through Mizuho, with up to 189,500 more tied to an over-allotment, and says net proceeds of up to ¥5.49bn will go to a roughly ¥23bn Wakayama cable project whose final cost to IPS remains open.