Mizuho strengthens capital, raises $5.50 billion

Yet another Japanese mega-bank succeeds in raising capital, despite a bumpy ride.

Mizuho Financial Group is set to raise 516 billion $5.50 billion in total proceeds, including a greenshoe amounting to 36 billion, after selling just under 3 billion of new common stock, according to the company's website. The fundraising comes after Sumitomo Mitsui Financial Group's SMFG $8.8 billion follow-on in June, which was the largest-ever capital raising exercise in Japan's banking sector, and Mitsubishi UFJ Financial Group's MUFG $4.5 billion follow-on in December.

Bank of America Merrill Lynch, Goldman...

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