Shares in Japan's Mazda Motor tumbled more than 14 percent on Tuesday after reports that the troubled car maker plans to raise 100 billion yen ($1.25 billion) in a new share issue.
Mazda Motor is to raise the cash as it comes under pressure from the strong yen and slow global demand, according to a report by national television network NHK, which did not cite its sources.
The car company will also take out subordinated loans totalling 70 billion yen from various banks. The loans come with higher interest rates but are payable only after satisfying other debts. (AFP)
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