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Sharp says may cut its capital, shares dive 20 percent

Sharp television sets
Rick Wilking | Reuters
Sharp television sets

Japan's Sharp said it was considering a capital reduction and preferred share issuance as part of its restructuring plan, sending its stock sliding more than 20 percent.

The loss making electronics maker is expected to announce details of its capital plans, along with a $1.7 billion bailout from its main lenders, on Thursday.

Its shares were down 23 percent in morning trade.