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Sharp Cancels New Share Issue, Citing Market Instability

Sharp Corp. (SHCAY.PK) said it cancelled plans to raise as much as 200 billion yen or about $1.8 billion in a public share sale, citing market instability fueled by U.S.-China trade tensions.

The Japanese company had planned to use the proceeds to purchase preferred stock and improve its finances. It also retracted a full-year report related to the sale.

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