Sumitomo adds to wave of bumper capital raisings in Japan

03 Jun 2009

Sumitomo Mitsui Financial Group confirmed its plans to sell new shares worth up to ¥834bn ($8.6bn) late last week in a deal that will boost its balance sheet ahead of the acquisition of Citi’s Nikko Cordial unit.

SMFG has split the deal between onshore and offshore tranches to boost ...

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