Mitsubishi UFJ Poised to Fall on Capital-Raising Speculation
By Terje Langeland
Oct. 27 (Bloomberg) -- Mitsubishi UFJ Financial Group Inc. was poised to fall in Tokyo trading after reports said the lender may seek to raise as much as 1 trillion yen ($10.7 billion) in additional capital.
Japan's biggest bank was bid at 673 yen, 1.5 percent below Friday's closing price, as of 9:02 a.m. local time. The shares were untraded as offers outnumbered bids.
Sumitomo Mitsui Financial Group Inc. and Mizuho Financial Group Inc. were also untraded and poised to decline, after broadcaster NHK reported the two banks may also raise capital.
To contact the reporter on this story: Terje Langeland in Tokyo at tlangeland1@bloomberg.net
Last Updated: October 26, 2008 20:06 EDT
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