Post Time：Aug 25,2010Classify:Company NewsView：677
TOKYO (Dow Jones)--Nippon Sheet Glass Co. (5202.TO) said Tuesday it will rise up to Y49.81 billion through equity financing to renew and expand its plants as well as to repay debts.
The Japanese glass maker, which in 2006 bought U.K. counterpart Pilkington, said it is planning a public offering of up to 222 million new shares, comprising 140.4 million to be offered overseas and 81.6 million in Japan.
Nippon Sheet Glass currently has 669.6 million outstanding shares.
Additionally, an underwriter may offer 12 million existing shares borrowed from current shareholders in case of strong demand in Japan. The offering price will be set between Sept. 8 and Sept. 10.
J.P. Morgan Securities and Daiwa Capital Markets Europe will be the global underwriters of the offering, while Daiwa Securities Capital Markets, Nikko Cordial Securities and JPMorgan Securities Japan will underwrite the Japanese offering.
Nippon Sheet Glass shares ended Tuesday down 0.5% at Y199 on the Tokyo Stock Exchange.
Source: http://online.wsj.com/article/BT-CO-20100824-70163Author: shangyi
