Rakuten Group, Inc., the Japanese e-commerce giant, announced its intention to raise $2.4 billion in additional capital through a follow-on issuance, in an effort to replenish cash depleted by its mobile division. CyberAgent, Inc. and Tokyu Corp., as well as two asset management firms owned by the family of billionaire founder Hiroshi Mikitani, will receive newly issued shares while the remaining offering will be sold to the public at a slight discount.
Rakuten to Issue New Shares to Raise Up to $2.2 Billion
