UPDATE 1-Toray to raise up to $1.2 bln via share sales

Newswire

* Most of proceeds used to repay debt from battery venture * Some of remainder to boost carbon fibre output * Nomura Securities to lead manage offering (Adds detail) TOKYO, May 24 (Reuters) - Japan's Toray Industries said on Monday it would raise as much as 109.5 billion yen ($1.22 billion) from the sale of new and existing shares to help it meet growing demand for new technologies such as lithium ion batteries and carbon fibre. The textile company will use 59 billion yen from the ...

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