Nomura Holdings Inc. (NYSE: NMR) said Thursday it will raise up to 510 billion yen ($5.6 billion) next month from selling new shares, according to Associated Press.
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Japan’s largest brokerage will use the offering to augment its capital and improve business abroad.
Nomura said it is offering 400 million shares overseas, targeting mainly European investors, and another 370 million shares of common stock at home, with an overallotment option of about 34 million shares. The price will be set between Oct. 5 and 7, the brokerage said.
The capital infusion is aimed at "strengthening our business foundation in the U.S. as well as Asia, which includes Japan, and Europe," Nomura said in a statement. "We believe that reinforcement and allocation of capital into profitable and growing operations would contribute to improve our future growth and profitability."
Nomura posted a group net profit of 11.4 billion yen ($120 million) in the April-June quarter, in a turnaround after the costs of acquiring Lehman Brothers led to a record loss last year.
In trading Thursday, shares of Nomura dipped 1.6 percent to 681 yen. Nomura made the announcement after trading closed on the Tokyo Stock Exchange.
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