Nomura Holdings has raised 395.2 billion $4.4 billion from its second follow-on share sale this year after fixing the offer price at a 4.1% discount to yesterday's closing price. The deal size may increase to $5.1 billion if the 15% overallotment option is exercised in full.
The Japanese bank has told investors that it plans to use the funds to strengthen its overseas operations, primarily in the US. At the end of 2008, Nomura acquired Lehman Brothers' bankrupt operations in Asia and Europe, but missed out on the US business which went to Barclays.
By the end of the week-long offering period, investors had come around to the bank's view that it needed more...
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