Shinsei turns to old and new investors for ¥48bn capital raising
Shinsei Bank launched a ¥48.2bn ($491m) capital raising on Tuesday, looking to boost its balance sheet through a combination of exchanges and new preferred securities.
Shinsei is raising most of the money through what is effectively an exchange, swapping ¥39.1bn of preferred shares issued by Aplus, its consumer finance subsidiary, for new preferred securities in Shinsei. The bank is also set to sell ¥9.1bn of new tier one securities to institutional investors, it
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