Sharp issues shares to Qualcomm, agrees new loans

News General Global 24 JUN 2013
Sharp issues shares to Qualcomm, agrees new loans
Sharp announced that Qualcomm has completed its second subscription to new shares in the Japanese company, as outlined in their agreement of last December. Qualcomm paid JPY 502 per share for 11.87 million shares, giving Sharp gross proceeds of JPY 5.96 billion. This will increase the company's capital reserves by JPY 2.98 billion. After the issue, Sharp has 1.19 billion shares outstanding and total capital of JPY 215.32 billion. 

Sharp also announced the renewal of a JPY 360 billion syndicated loan. First agreed in September 2012, the loan was set to expire on 30 June this year. It also arranged a new syndicated loan of JPY 150 billion yen that will be used for redemption of its convertible bonds. Both the loans are due 31 March 2016. 

Categories:

General

Companies:

Qualcomm,  Sharp

Regions:

Global

Tags:

Components, Wholesale, Financial funding

Related Articles

GLOBAL 8 OCT 2013

Sharp lowers estimate for public offering

Sharp will raise a maximum of JPY 136.5 billion in an upcoming public offering and private placement of new shares, about JPY 30 billion less than initially planned, reports the Nikkei. The firm had planned to procure a total of up to JPY 166.3 billion, issuing shares at JPY 348 each. The company lowered its estimate for the public offering to a maximum of JPY 119.1 billion, 20 percent short of the initially planned JPY 148.9 billion. The shares will be issued 15 October. The amount raised via a private pla

GLOBAL 18 SEP 2013

Sharp plans new share issue, raises FY outlook

Sharp has announced plans to raise JPY 166.5 billion (USD 1.68 billion) from the sale of new shares, including allocations to three key partners to invest in new growth businesses. In addition to a general public offering of JPY 149 billion in new shares, Sharp's partners Denso, Makita and Lixil have agred to buy respectively JPY 2.5 billion, JPY 10 billion and JPY 5 billion in stock as part of broader development agreements with the company. The share offering, which follows a similar agreement with Qualco

GLOBAL 1 AUG 2013

Sharp shows further improvement in Q1

Sharp has maintained its outlook to return to a small net profit this fiscal year after posting an improvement in the first quarter to June. The company's sales rose 32.6 percent to JPY 607.9 billion, and the operating result moved to a profit of JPY 3.0 billion from a loss of JPY 94.1 billion a year ago, its third consecutive quarter of profit. The growth came mainly in solar cells, as well as semiconductors and LCDs, where the company reduced costs. The net loss narrowed to JPY 18 billion from 138.4 billi

JAPAN 22 JUL 2013

Sharp may seek JPY 100 bln capital infusion - report

Sharp is weighing a capital increase through a private placement of shares as well as a public offering that could bring in a total of over JPY 100 billion, reports the Nikkei. The company is seeking to raise funds from housing equipment maker Lixil Group and toolmaker Makita. Makita is expected to work out the specifics of a business alliance with Sharp, to which it agreed in May, before weighing a capital tie-up. Automobile parts manufacturer Denso, which has ties with Sharp in car navigation LCDs, is als

JAPAN 7 JUN 2013

Sharp to sell JPY 5.96 bln of shares to Qualcomm

Sharp has announced that it will issue 11.87 million shares for JPY 5.96 billion to Qualcomm as the second part of the companies' capital alliance to mass produce MEMS displays. Payment is due to be completed by 24 June. Sharp sold Qualcomm around JPY 4.94 billion of shares on 27 December 2012. The move will give Qualcomm a 3.53 percent stake in Sharp, making it the Japanese group's third-biggest shareholder.

GLOBAL 28 MAR 2013

Sharp may pursue private equity, public share sale - report

Sharp is considering seeking investments from private equity funds or selling shares to the public, after failing to close a deal with Hon Hai for a cash injection, two people familiar with the matter told Bloomberg. Details of the funding will possibly be included in Sharp's mid-term plan, which may be released in early May, the report said. A deadline for an investment from Hon Hai Precision, the owner of Foxconn, expired a day before the report after the companies could not secure regulatory approval. Lo

GLOBAL 18 MAR 2013

Qualcomm delays second investment in Sharp

Sharp said a second investment of approximately JPY 5 billion Qualcomm, due to be made on 29 March, will be delayed because Sharp was unable to develop production technology for its MEMS displays. Sharp told Bloomberg that the postponement would not result in liquidity problems and that the firms were now working toward a deadline of 20 June. Qualcomm agreed in December to invest JPY 9.9 billion in Sharp, which is trying to overcome losses caused by falling demand for its TVs. The investment is conditional

GLOBAL 28 DEC 2012

Sharp gets first payment from Qualcomm

Sharp has issued the first block of new shares to Qualcomm, as part of their investment agreement announced earlier this month. Qualcomm has acquired 30.12 million shares at JPY 164 each, for a total JPY 4.94 billion. Qualcomm agreed to invest up to JPY 9.9 billion (USD 120 million) in the Japanese company, via regular payments for milestones in their joint product development.

GLOBAL 4 DEC 2012

Sharp secures investment, MEMS partnership with Qualcomm

Sharp has confirmed an agreement for Qualcomm to invest up to JPY 9.9 billion (USD 120 million) in the Japanese company. Sharp said the money will be used to develop and commercialize MEMS display products, working from its LCD panel plant in Yonago in Japan. It will work with Qualcomm subsidiary Pixtronix to develop the products, incorporating its own IGZO display technology. In addition, the two companies will consider the possibility of further collaboration on chipsets by Qualcomm Technologies and IGZO-

Just In

13:39

True reshuffles executive team

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.