JFE Holdings to raise $1.4 bln via share offering, convertible bonds (updated)

JFE Holdings

05/09/2023 03:58

(Recasts with company's regulatory filings)
       TOKYO, Sept 5 (Reuters) - Japanese steel giant JFE
Holdings  5411.T  said on Tuesday its board has approved a
fundraising plan through a public share offering and convertible
bond issuance to overseas investors, totalling 211.4 billion yen
($1.44 billion).
    The company will raise 121.5 billion yen by offering 55
million treasury shares and raise another 89.9 billion yen by
issuing a five-year convertible bond, it said in regulatory
filings.
    The Nikkei newspaper had earlier reported the fundraising
plan by JFE, Japan's second-largest steelmaker by output, for
environmental investments.
    JFE shares fell 8.5% in Tokyo market trading on Tuesday
morning.
($1 = 146.5500 yen)

 (Reporting by Kantaro Komiya; Editing by Muralikumar
Anantharaman)
 ((Kantaro.Komiya@thomsonreuters.com; Twitter: @kantarokomiya;))