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Olympus considering up to 100 bln yen share offering -Nikkei
July 8, 2013 / 6:32 AM / 4 years ago

Olympus considering up to 100 bln yen share offering -Nikkei

TOKYO, July 8 (Reuters) - 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 year.

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)

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