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Saikyo Bank to issue up to ¥5.00B worth of common stock

Saikyo Bank Ltd. plans to raise up to ¥5.00 billion by issuing a maximum of 10,640,000 common shares.

The Japanese lender said June 5 that the funds raised will go toward meeting Basel III requirements.

The payment date is July 31.

As of June 2, US$1 was equivalent to ¥110.47.