Sharp to raise almost $1.7B

|About: Sharp Corp. (SHCAF)|By:, SA News Editor

Sharp (SHCAF.PK) intends to raise up to 166.5B yen ($1.68B) through a public offering of shares and via third-party placements in a move that will bolster the finances of the electronics company, which has been trying to recover from a severe crisis for over a year.

Sharp also increased its guidance for FH1, saying it expects an operating profit of ¥30B vs a prior forecast of ¥15B and a loss of ¥168.90B a year earlier.

The fundraising adds to investments that Sharp has received from Samsung and Qualcomm.