Japan's Aozora Bank gets $333 mln funding from Daiwa Securities

Daiwa Securities

13/05/2024 08:06

TOKYO, May 13 (Reuters) - Japan's Aozora Bank  8304.T 
said on Monday it would receive a 51.9 billion yen ($333
million) investment from brokerage giant Daiwa Securities Group
 8601.T  as the two form a capital and business alliance.
    Aozora will issue new shares to Daiwa through a third-party
allotment and use all of the funds for corporate bond
redemption, the bank said in a statement.
    Daiwa will become Aozora's biggest shareholder with a 15.54%
stake, the bank said.

($1 = 155.8400 yen)

 (Reporting by Kantaro Komiya
Editing by Chang-Ran Kim)
 ((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))