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Technology Stocks : WDC, NAND, NVM, enterprise storage systems, etc.

SNDK 210.20

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Dec 1 3:59 PM EST

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From: Sam	11/20/2017 9:16:02 AM
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November 19, 2017 / 7:17 PM / Updated 2 hours ago Toshiba gains breathing room with $5.4 billion share issue to overseas investors Makiko Yamazaki, Jennifer Hughes TOKYO/HONG KONG (Reuters) - Toshiba Corp’s ( 6502.T) planned $5.4 billion new share issue to overseas investors is set to provide it with most of the funds it needs to avoid a delisting - a quickly arranged deal that underscores both the weakness of its finances and the allure of its chips unit. Burdened by billions of dollars in liabilities at its bankrupt U.S. nuclear reactor maker Westinghouse, Toshiba has been seeking to make up the difference by the end of the financial year in March or face a delisting. A long and contentious auction for its $18 billion chip unit has meant it cannot rely on those funds coming in on time. The share issue, decided at a board meeting on Sunday, is equivalent to a 35 percent stake in the embattled Japanese conglomerate and will see more than 30 overseas investors, including Third Point LLC, Oasis Management Company and Cerberus Capital Management, take part. continues at reuters.com

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