Sharp to raise $110 million by selling 3 percent stake to Samsung Electronics

Posted on March 6, 2013

Advertisements for Sharp are seen at a train station in TokyoTOKYO (Reuters) – Sharp said on Wednesday that it will raise 10.3 billion yen ($ 110 million) through a share offer to Samsung Electronics in a bid to bolster its finances. After dilution, Samsung Elecronics will own a 3 percent stake in Sharp. The struggling Japanese electronics maker said in a statement that it will supply large TV panels and expand shipments of smaller LCDs for use in mobile devices to Samsung. ($ 1 = 93.35 Japanese yen) (Reporting by Tim Kelly and Miyoung Kim; Writing by Shinichi Saoshiro; Editing by Edwina Gibbs)


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