Sharp to issue $2 billion in shares to finance buyback, research
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TOKYO (Reuters) - Sharp Corp said on Friday it would raise up to 216 billion yen ($2 billion) by issuing new shares and a private placement, using the funds to buy back shares, and on R&D in the fields of 8K and AIoT - an area combining artificial intelligence and Internet of Things.
The Japanese company plans to buy back and cancel 200,000 class A shares, it said.
($1 = 109.9500 yen)
(Reporting by Chris Gallagher, Editing by Sherry Jacob-Phillips)
