Mazda Stock Offering To Raise Up To $1.1B For R&D

Law360, New York (October 5, 2009, 5:13 PM EDT) -- Citing its improved financial outlook for the rest of the year, Mazda Motor Corp. said Monday it had decided to raise up to $1.1 billion through a new public stock offering and other measures, mainly to fund the research and development of more environmentally friendly vehicles.

The Hiroshima, Japan-based automaker plans to issue nearly 315.2 million new shares, sell more than 96.8 million existing shares it currently owns and offer another 48 million through over-allotment, Mazda said in a statement.

The company expects to raise as...
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