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Olympus could raise $640 mln via third-party allotment -media
June 5, 2012 / 12:05 AM / 5 years ago

Olympus could raise $640 mln via third-party allotment -media

TOKYO, June 5 (Reuters) - Japan’s scandal-tainted Olympus Corp is considering raising about 50 billion yen ($640 million) through a third-party share allotment, the Sankei Shimbun reported on Tuesday.

The maker of medical equipment and cameras is struggling to recover from a $1.7 billion accounting fraud which left it with a paper-thin equity ratio of 4.6 percent of total assets, as of end-March, after it corrected years of misleading accounts.

Olympus said in a statement that the report is not based on an announcement from the firm.

$1 = 78.2800 Japanese yen Reporting by Ayai Tomisawa; Editing by Joseph Radford

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