Sharp eyes another share offering, could raise $2.46 billion: Media
Published on Apr 13, 2014 12:09 PM
TOKYO (REUTERS) - Sharp Corp, Japan's largest display maker, is considering another issue of new shares that could raise around 200 billion yen (S$2.46 billion) to replenish its depleted capital base, the Asahi newspaper reported on Sunday.
Sharp is aiming to launch the offering during the current financial year to March 2015 after carrying out restructuring at its flagship Kameyama LCD display factory and putting its earnings on a solid recovery path, the newspaper said.
No one at Sharp could be reached for comment on Sunday.
The reported move comes after Sharp announced in February that it would beat a previous operating profit forecast for the financial year ended last month on the back of strong orders from Chinese makers for smartphone panels.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!