11/19/2017, 3:42 PM (Source: TeleTrader)
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Toshiba to raise $5.3 bn by issuing new shares

Toshiba Corp. stated on Sunday that it intends to raise additional $5.3 billion by issuing new shares in an attempt to avoid delisting from the Tokyo bourse. According to the statement, the Japanese conglomerate's board made the decision earlier today.

The Tokyo-based electronics giant will issue 2.28 billion new shares, half of the number of those currently listed, and raise ¥600 billion ($5.3 billion). The financing is expected to close on December 5.

Since the beginning of the year, Toshiba's shares fell around 7.9% while they plummeted around 33% in the past year.

Breaking the News / DN