Japan's Recruit Holdings shareholders to sell up to $4 bln in stock

TOKYO, Nov 30 (Reuters) - Japan’s staffing agency Recruit Holdings Co Ltd said on Monday its shareholders will sell 416.8 billion yen ($4 billion) worth of shares in the company to overseas investors.

The shareholders, which include Dentsu Group Inc, Toppan Printing Co and Japanese television networks, will sell as many as 94.7 million shares in Recruit, or 5.59% of its outstanding shares, Recruit said in a statement.

The selling price will be decided either on Dec. 2 or Dec. 3.

Recruit also said it would buy back 70 billion yen worth of shares, or as many as 20 million shares, from the market to boost shareholder value.

$1 = 103.8800 yen Reporting by Junko Fujita; Editing by Shounak Dasgupta