August 1, 2013 / 12:36 AM / 4 years ago

Japan's Sharp says no decision yet on possible share issue

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TOKYO, Aug 1 (Reuters) - Japan's Sharp Corp said on Thursday it was considering a possible public offering of shares and third-party share placements among its options as it moves to shore up its finances, but had made no decisions.

The Nikkan Kogyo Shimbun business daily reported on Thursday that Sharp would decide this month on a more than 70 billion yen ($712 million) public offering of shares as part of a 100 billion yen fundraising plan to be carried out by mid-September.

Japanese media reports and sources familiar with the situation have said Sharp is aiming to raise 100 billion yen from share sales by the end of September via a public share offering and private placements of about 10 billion yen each to several corporate partners, including Lixil Group Corp.

Sharp shares were suspended on the Tokyo Stock Exchange on Thursday pending an announcement. ($1 = 98.3550 Japanese yen) (Reporting by Mari Saito and Edmund Klamann; Editing by Paul Tait)

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