Mitsubishi Motors is planning to raise as much as 200 billion yen or $2 billion, via a public offering of new shares, The Detroit News reported, citing two people familiar with the matter.
Mitsubishi seeks to reduce preferred stock held by other Mitsubishi companies.
The company is expected to announce the plan after reporting half-year financial results at the end of October, with the sale likely occurring between January and March of 2014, the an unnamed people said.
The public offering would be part of a reorganization involving Mitsubishi UFJ Financial Group Inc., Mitsubishi Heavy Industries Ltd. and Mitsubishi Corp., according to an identified people.
Source: The Detroit News
