Reuters: Global Markets: Olympus hits one-month low, plans up to $1.17 billion in share issue

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Olympus hits one-month low, plans up to $1.17 billion in share issue Jul 9th 2013, 00:25 Tweet Share this Email Print Related Topics Hot Stocks » Asian Markets » A man passes a logo of Japan's Olympus Corp outside the company showroom in Tokyo December 21, 2012. Credit: Reuters/Yuriko Nakao TOKYO | Mon Jul 8, 2013 8:25pm EDT TOKYO (Reuters) - Shares in Olympus Corp (7733.T) dropped as much as 7.6 percent to a one-month low of 2,860 yen on Tuesday after it said it will raise up to 118 billion yen ($1.17 billion) in a new share issue to expand its medical equipment business. The proceeds will also be used to rebuild its financial health, after an accounting scandal plunged the company into the red. Olympus shares were down 7.4 percent at 2,867 yen by 0016 GMT. (Reporting by Dominic Lau; Editing by Stephen Coates) Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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