Embattled Rakuten, a Japanese fintech company, plans a $2.5 billion share offering to boost finances

Embattled Rakuten, a Japanese fintech company, plans a $2.5 billion share offering to boost finances.

Rakuten Group Inc., a Japanese e-commerce and fintech company, stated on Tuesday that it planned to issue new shares to the market.

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The company’s shares fell 5.1%, continuing the previous day’s dramatic decline following Reuters’ story on the plan.

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Rakuten stated that it planned to collect around 290 billion yen through an IPO and allow an additional 41.8 billion yen to Mikitani.

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