Sumco to raise $186M from from bank-led fund -source

Sumco is in final talks with a turnaround fund backed by Japan's major banks to raise 15 billion yen or $186 million by issuing preferred shares.

The investment, the source said, would be part of a 45 billion-yen capital raising previously announced by Sumco, the world's second-largest producer of silicon semiconductor wafers.

The fund, Japan Industrial Solutions, was established in 2010. Its major shareholders include Bank of Tokyo-Mitsubishi UFJ, Mizuho Corporate Bank and Sumitomo Mitsui Banking Corp
 

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