Rakuten plans to raise $2.2bn as Japan Post and Tencent invest ...Qatar

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Rakuten plans to raise $2.2bn as Japan Post and Tencent invest
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Rakuten Inc plans to raise ¥242bn ($2.2bn) by selling shares to investors including Tencent Holdings Ltd, Walmart Inc and Japan Post Holdings Co, bankrolling expansions into AI, finance and mobile. Japan Post will buy a stake of 8.32% via new and existing shares in Rakuten while China’s social media leader and the US retail giant will take smaller slices, a filing showed on Friday. Shares of Rakuten and Japan Post surged as the agreement builds on an existing alliance on logistics forged by the two last year. The Japanese e-commerce pioneer has benefited from a boom in online shopping during the pandemic, but faces stiff competition from Amazon.com Inc. Last year, the company scaled back pl

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