Rakuten Group prices Rakuten Bank shares at 2,470 yen in $412 million offshore sale

TOKYO : Japan’s Rakuten Group said on Thursday it set a 2,470 yen per share price in a planned offshore sale of 24.5 million shares of Rakuten Bank worth 60.6 billion yen ($411.85 million).

The e-commerce and fintech giant announced on Wednesday it would sell nearly 15 per cent stake of the online bank unit, its latest effort to contend with heavy debt and losses at its mobile network business.

($1 = 147.1400 yen)