| Companies |
 |
Nippon Elec Glass To Raise $291 mln, Lifts Outlook
|
Nippon Electric Glass Co (5214.T: Quote, Profile, Research) on Monday lifted its annual profit forecast and said it would raise up to 31 billion yen ($291 million) in a share issue to ramp up output of glass used to make flat-panel displays.
The world's third-biggest maker of glass substrates for liquid crystal displays (LCDs) has been boosting production as it tries to catch up with the industry leader, Corning Inc (GLW.N: Quote, Profile, Research), and the second-largest maker, Asahi Glass Co (5201.T: Quote, Profile, Research).
The stock issue comes amid shaky investor sentiment. Japan's Nikkei average fell 4 percent on Monday to trade near 28-month lows, while Nippon Electric's own shares have lost one-quarter of their value in the past six months.
The issue will dilute existing Nippon Electric shares by about 4 percent.
The entire news available onthe source link below.
|
January 29th, 2008
Source: Reuters |
Add a Comment
|
You have to be registered in order to add your comment.
If you already have an account, please sign-in to comment.
|
|
|
|
