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Toshiba plans to raise $5.3 bln to avoid delisting risk
November 19, 2017 / 10:51 AM / 22 days ago

Toshiba plans to raise $5.3 bln to avoid delisting risk

TOKYO, Nov 19 (Reuters) - Toshiba Corp said it would raise 600 billion yen ($5.3 billion) in fresh capital, a key step that would allow the troubled conglomerate to remain a publicly traded company even if the sale of its chip unit is delayed.

Toshiba’s board met on Sunday and approved a plan to raise 600 billion yen ($5.3 billion) by offering new shares to 60 overseas investors, the company said. (Reporting by Makiko Yamazaki; Editing by Mark Potter)

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