Nikkei reports that Sharp will raise $1.8 billion through a public offering, with the fundraising round scheduled to conclude in July. The publication writes that the funds raised will be used “to purchase Sharp’s preferential stocks held by financial institutions”.
The decision is said to be the final step in an aggressive financial rehabilitation plan implemented by parent company Foxconn, which acquired control of Sharp back in 2016. The acquisition followed a period of financial hardship for the firm, which posted significant losses in 2011, 2012 and 2014.
