Shinsei preparing to raise Y75 bln in capital - FT

TOKYO, March 11 (Reuters) - Japan's Shinsei Bank (8303.T) is preparing to issue new shares to raise about 75 billion yen ($830 million) in fresh capital, the Financial Times reported on Thursday.

The move comes as Shinsei's plan to merge with Aozora Bank (8304.T) is in danger of collapse, the FT reported citing a person familiar with the negotiations.

The Nikkei newspaper said last month that the banks would scrap or indefinitely postpone their plan to merge because they could not decide on a business strategy. [ID:nSGE61B0DR] ($1=90.51 Yen) (Reporting by Nobuhiro Kubo)