Sharp to raise $110 mln by selling 3 pct stake to Samsung Elec
TOKYO, March 6
TOKYO, March 6 (Reuters) - Sharp said on Wednesday that it will raise 10.3 billion yen ($110 million) through a share offer to Samsung Electronics in a bid to bolster its finances.
After dilution, Samsung Elecronics will own a 3 percent stake in Sharp. The struggling Japanese electronics maker said in a statement that it will supply large TV panels and expand shipments of smaller LCDs for use in mobile devices to Samsung.