“Sharp Corp. (6753), the Japanese TV maker that warned last month about its ability to survive, reached a two-month high after saying it plans to raise as much as 9.9 billion yen ($121 million) selling shares to Qualcomm Inc. (QCOM)
Sharp, the world’s second worst-performing major stock, rose 4 percent to 181 yen in Tokyo trading, its highest close since Oct. 4. The Osaka-based company will sell 30.12 million shares at 164 yen apiece to Qualcomm this month for a 2.6 percent stake, and may sell another 4.94 billion yen of stock if certain conditions are met, the TV maker said in a statement after the market closed yesterday.”
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