Olympus Shares Fall on Plan to Sell $1.2 Billion of Stock

Olympus Corp., the world’s biggest maker of endoscopes, fell to the lowest level in eight weeks in Tokyo trading after saying it plans to sell as much as 118 billion yen ($1.2 billion) of shares overseas.

Olympus dropped 5.4 percent to 2,928 yen as of the close, the lowest since May 15. As many as 41 million shares, amounting to 12 percent of the stock outstanding after the sale, will be offered in markets including the U.S. and Europe, Olympus said yesterday.