TOKYO (Reuters) - Shares of Japan Display Inc fell as much as 7 percent early on Wednesday after saying it had yet to reach an agreement for a tie-up with an external party that it had said would be sealed by the first half of this week.
Japan Display has been aiming for a capital increase of 110 billion yen ($990 million), most of it through the issuance of stocks and bonds to external investors. It has not named the external investors, although two sources have previously told Reuters it was looking to an investor group, led by China Silkroad Investment Capital, for a bailout.
In a statement late on Tuesday, Japan Display said it was making progress towards an agreement and that it was in the final stage of negotiations. It did not give a new time frame for an expected deal.
(Reporting by Takashi Umekawa; Editing by Chang-Ran Kim)
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Updated Date: Apr 10, 2019 07:05:25 IST