Japan's top bank Mitsubishi UFJ Financial said Monday it aims to raise more than 12 billion dollars in fresh capital in December, in a bid to bolster its capital ravaged by the financial crisis.
MUFG said it plans to raise 1.056 trillion yen (12.18 billion dollars) by issuing 2.34 billion new shares, with the price to be fixed between December 14 and 16. The shares are set to be sold on markets the following day, it said in a statement.
"In view of changes in global regulations and the competitive environment, the (issuance) aims to secure strong finances in order to have a stable financial supply and contribute to the broader economy," the statement said.
Copyright 2009 AFP Global Edition
