Renesas Electronics Corp's logo is pictured at the company's conference in Tokyo, Japan, April 11, 2017.
REUTERS/Toru Hanai/File Photo Acquire Licensing RightsTOKYO, Nov 10 (Reuters) - Japanese state-backed fund INCJ said it has sold all but a token portion of its stake in semiconductor manufacturer Renesas Electronics (6723.T), offloading 279 billion yen ($1.84 billion) worth of shares.
INCJ had previously held 6.65% of Renesas' shares, it said in a statement on Thursday.
The sale price of 2,143 yen ($14.17) per share represented a discount of 8.01% on Renesas' closing share price of 2,329.5 yen on Thursday, the fund said in a separate statement on Friday.
Renesas' shares had dropped 4.5% to 2,224 yen by mid-morning on Friday.
Persons:
Toru Hanai, INCJ, Renesas, Anton Bridge, Christopher Cushing, Muralikumar
Organizations:
REUTERS, Rights, Renesas Electronics, Thomson
Locations:
Tokyo, Japan