GS Yuasa to raise up to $315 mln in share sale to Honda

GS Yuasa

20/11/2023 06:55

TOKYO, Nov 20 (Reuters) - Japanese battery maker GS
Yuasa  6674.T  said on Monday it would raise as much as 47.2
billion yen ($315.47 million) in a sale of new shares and
third-party allotment to Honda Motor  7267.T .
    GS Yuasa said it would use the funds for capital expenditure
on a new plant to make lithium-ion batteries for electric
vehicles. 
    Honda said separately it was participating in the share sale
as part of its strategy to strengthen its electrification
business.
($1 = 149.6200 yen)

 (Reporting by Rocky Swift; Editing by Muralikumar Anantharaman)
 ((rocky.swift@thomsonreuters.com;))