UPDATE 1-Sharp aims to raise $1 bln from share sales by end-Sept -Kyodo

Thu Jul 18, 2013 8:53pm EDT

* Sharp to raise 100 bln yen through share sales - Kyodo

* Company planning 10 bln yen share sale to Lixil Group - sources

* Shares rise more than 5 pct to 7-week high, up 15 pct in 3 days

TOKYO, July 19 (Reuters) - Japan's Sharp Corp is aiming to raise 100 billion yen ($1 billion) from share sales by the end of September as the struggling display maker looks to partnerships and a public offering to bolster its finances, media reports and sources familiar with the situation said on Friday.

The company plans a public offering of 90 billion yen by end-September, Kyodo news agency reported, while two sources familiar with the matter said it plans to raise 10 billion yen through a share sale to housing appliance maker Lixil Group Corp .

Sharp is also sounding out other companies including power tools maker Makita Corp to buy shares, the sources told Reuters.

The Osaka-based company, which supplies display panels for Apple Inc's smartphones, received a $4.6 billion rescue from banks last year and has since received investments from Samsung Electronics Co Ltd and Qualcomm Inc .

Japanese media have flagged the possibility of a public offering this year although the specific timing had remained unclear before Friday's mention of an end-Friday target.

Shares in Sharp rose more than 5 percent in morning trade on Friday to 490, their highest in seven weeks. They have gained nearly 15 percent over three days.

The company said in a statement nothing had been decided regarding a public share offer or a share sale to companies.

Sharp has forecast an 80 billion yen operating profit for the year to next March 31, after logging a 146.27 billion yen operating loss last year.

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