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Toshiba targets 600b yen from shares sale to fend off delisting

If successful, it will wipe out a negative 750 billion yen on its balance sheet by March 2018FY

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Toshiba is struggling to recover from multibillion-dollar losses in the Westinghouse nuclear operations in the US. The company has agreed to sell its memory-chip unit to raise funds, butĀ feared the deal wouldn't be completed by the end of March as it needs to clear competition laws in different countries.

Tokyo

TOSHIBA Corp plans to raise 600 billion yen (S$7.2 billion) by selling new shares and will explore divestment of its Westinghouse-related assets in a bid to avoid being delisted from the Tokyo Stock Exchange.

Toshiba's board approved the transaction on Sunday and expects it

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