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Toshiba gets share relief

by on20 November 2017

Phew, that was close

Troubled Japanese giant Toshiba will have an injection of funds which may help it get over its Westinghouse infection.

According to reports, it plans a share issue which will raise over $5 billion and prevent its feared delisting from the Tokyo stock exchange.

The board of Toshiba decided on the new share issue at a meeting yesterday with a number of foreign investors offering to chip in and make it happen.

Toshiba had hoped that the sale of its semiconductor wing would help stop the pain but the money for that won’t come in on time, forcing the board to come up with some other wizard wheeze to help it out of its embarrassing health condition.

The collapse of its Westinghouse nuclear business was the the trigger which caused Toshiba’s ailment in the first place.

Last modified on 20 November 2017
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