Sumitomo Mitsui Financial Group will raise up to Y923bn ($9.39bn) in the biggest issue of new shares by a Japanese group in eight years. The issue, at Y3,928 a share, was priced on Monday at a 3 per cent discount to the day’s closing price, indicating firm investor interest in Japan’s third largest banking group. The deal also reflects strong demand among financial institutions for fresh capital and new appetite for the banking sector amid signs of growing stability in the capital markets.

This entry was posted by Gwen Robinson on Tuesday, June 16th, 2009 at 5:21 and is filed under Capital markets. Tagged with SMFG. Edit this entry.