Due to huge losses in the US property market, Aozora Bank was rescued and invested 330 million US dollars by Daiwa Securities

Zhitong Finance learned that Daiwa Securities Group will take a stake in Aozora Bank, which will enable Aozora Bank to obtain new capital after losing money due to the turmoil in the US real estate market. Daiwa Securities said in a document that Daiwa Securities will purchase newly issued shares worth approximately 51.4 billion yen (US$330 million) from Aozora Securities and obtain about 15.6% of voting rights. According to compiled data, this would make Daiwa Securities the bank's largest shareholder. Daiwa Securities and Aozora Bank plan to cooperate in four areas: wealth management, real estate, mergers and acquisitions, and startup investment.

Zhitong FinanceMay 13 16:40

Express News | Aozora Bank - Daiwa to Become Our Top Shareholder With 15.54% Stake

BreakingsMay 13 15:02

Express News | Aozora Bank - to Use All Funds From Daiwa for Corporate Bond Redemption

BreakingsMay 13 15:01

Express News | Aozora Bank - to Form Capital, Business Tie-up With Daiwa Securities Group

BreakingsMay 13 15:00

Express News | Aozora Bank to Issue New Shares to Daiwa in Third-Party Allotment - Nhk

BreakingsMay 13 14:49

Express News | Daiwa Securities Group to Invest About 50 Bln Yen in Aozora Bank - Nhk

BreakingsMay 13 14:48