TOKYO, July 8 Japan's Olympus Corp is
considering issuing up to 100 billion yen ($991 million) of new
shares in its first public share offering in 32 years to fund
research in its endoscope business and expand its medical
business into developing countries, the Nikkei business daily
reported on Monday.
Olympus is hoping to shore up its capital after suffering
enormous losses in 2011, the Nikkei added.
The company raised 50 billion yen through a third-party
allocation of shares to business partner Sony Corp last
A rally in Japanese shares since late last year has spurred
many companies to tap the equities markets for funds. Dentsu Inc
, Japan's largest advertising agency, last week said in
a regulatory filing that it would raise about 120 billion yen
from the sale of newly issued shares and treasury stock, to help
pay down 200 billion yen of short-term debt for the acquisition
of Aegis Group Plc.
($1 = 100.9050 Japanese yen)
(Reporting by Sophie Knight; Editing by Edmund Klamann)