October 21, 2011 / 6:10 AM / 8 years ago

Olympus shares tumble to half their Oct 13 value

TOKYO, Oct 21 (Reuters) - Shares of Olympus Corp (7733.T) briefly fell below 1,241 yen on Friday, a point at which they were worth half of their value before the company’s ongoing management scandal erupted.

Olympus was down 5.2 percent at 1,251 after earlier falling as low as 1,236 yen.

A day earlier, the precision instrument maker’s biggest shareholders demanded it explain abnormally high M&A fees that were brought to attention by former chief executive Michael Woodford, whom the company ousted on Oct. 14. [ID:nL3E7LK00N]

(Reporting by Lisa Twaronite)

((lisa.twaronite@thomsonreuters.com)(+81 3 6441 1870 Reuters Messaging: lisa.twaronite.thomsonreuters.com@reuters.net)) Keywords: OLYMPUS/SHARES

C Reuters 2011 All rights reserved. Republication or redistribution of Reuters content, including by caching, framing, or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below