UPDATE 2-Mizuho sets share offer at 130 yen per share

* Raising up to Y748 bln, short of originally planned Y800bln

* Y130 per share is 3.7 pct discount to Tuesday closing price
(Adds capital ratio)

TOKYO, July 13 (BestGrowthStock) – Mizuho Financial Group (8411.T: )
said on Tuesday it has set the price of a share offering at 130
yen per share, raising up to 748 billion yen ($8.4 billion),
short of its original estimate due to a fall in its share price.

Mizuho, Japan’s No.2 bank by assets, registered its intention
in May to raise up to 800 billion yen in a common share issue to
prepare for stricter bank capital requirements, but held off
launching the offering due to weak market conditions.

On June 25, when it announced the launch, the bank said it
would raise up to 857.6 billion yen, with the offer price to be
decided sometime between Tuesday and Thursday this week.

The offer price represents a 3.7 percent discount to Mizuho
shares’ closing price of 135 yen on Tuesday. The shares have lost
12 percent since June 25.

The global offering of 6 billion new shares will boost the
bank’s shares outstanding by about 38 percent. The bank said the
capital raised is estimated to boost its Tier 1 capital ratio by
1.3 percentage points. The ratio stood at 9.09 percent as of the
end of March.
($1=88.65 Yen)
(Reporting by Taiga Uranaka; Editing by Michael Watson)

UPDATE 2-Mizuho sets share offer at 130 yen per share