UPDATE 1-NTN to raise up to $270 mln in share offering

Newswire

* To issue up to 62 mln shares, potential dilution 13 pct * Funds to up stake in French unit, capital spending, R&D TOKYO, Aug 28 (Reuters) - NTN Corp , a Japanese maker of auto bearings, said it would raise up to 25.3 billion yen ($270 million) to lift its stake in a French subsidiary and for capital investments and research and development. NTN, whose competitors include Minebea Co and NSK Ltd , said it would issue up to 62 million new common stock, including an over-allottment, ...

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