Jun
03
Rakuten to Raise $1.5 Billion in Japan, Overseas Share Sale
By
Rakuten Inc. CEO Hiroshi Mikitani. Photographer: Kiyoshi Ota/Bloomberg
Rakuten Inc. plans to raise as much as 188 billion yen ($1.5 billion) in a public share sale, mainly to pay down debt as the online mall operator pursues acquisitions to boost its Internet services business.
The share sale, to be conducted in Japan and overseas, will be priced as early as June 23, Rakuten said in a statement to the Tokyo Stock Exchange on Thursday.
Rakuten shares fell 6.6 percent to 1943.5 yen as of 1:27 p.m. local time, the lowest intraday price in three months. The benchmark Topix gained 0.3 percent…
Rakuten to Raise $1.5 Billion in Japan, Overseas Share Sale
