Nikkei share offering considered by Olympus

<p>Olympus is considering a major share offering on the Nikkei.</p>

Olympus Corp is set to launch a massive new Nikkei share offering in a bid to boost its endoscope business and expand the medical section of the firm.

It is considering issuing up to 100 billion yen (£665 million) of stocks in what would be the Japanese company's first share offering in 32 years, reports Reuters.

Olympus wants to use the money it would raise through the plan to fund an expansion of its medical business into developing countries.

It was pointed out that the firm experienced big losses during the course of 2011 and the share offering could be a way for the company to improve its financial situation.

A total of 50 billion yen was raised by Olympus through a third-party allocation of shares to business partner Sony Corp last year.

The Nikkei was down 1.4 per cent today, despite rising earlier in the session to reach a new six-week peak. At the end of trading, it had fallen back over 200 points on the start of the day.

Learn about the Asian markets and CFD trading at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.