Toyota Motor and Daimler Truck will reduce their stakes in truckmaker Archion this month. The automakers plan to sell shares worth up to $1.87 billion.
They will offer approximately 900 million shares, about 30 percent of Archion's outstanding stock. This public offering is designed to meet the company's listing requirements.
Archion confirmed it is considering capital policy options, including a potential share sale. No final decision has been announced. A formal announcement could come as early as next week.