Sharp to Raise $110 Million by Selling 3% Stake to Samsung

Photographer | Collection | Getty Images

Sharp said on Wednesday that it will raise 10.3 billion yen ($110 million) through a share offer to Samsung Electronics in a bid to bolster its finances.

(Read More: Sharp in Talks to Sell Chinese TV Plant to Lenovo)

After dilution, Samsung will own a 3 percent stake in Sharp. The struggling Japanese electronics maker said in a statement that it will supply large TV panels and expand shipments of smaller LCDs for use in mobile devices to Samsung.