Nomura announces capital-raising plan

Japan's top brokerage house announces an international equity offering that could raise up to $3 billion, the equivalent of one-third of its market cap.

Hurt by a slump in its traditional brokerage business, losses on subprime-related investments, and the high costs associated with the integration of Lehman Brothers, Nomura Holdings announced Monday that it will launch an international offering of up to 750 million new shares. The price will be announced between March 9 and March 11. As obliged under Japanese law, the company provided an estimate of how much it might raise, namely 302 billion 3.1 billion, based on the company's closing...

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