The Japanese conglomerate has received proposals from several domestic and overseas brokerages for plans to raise money through a public offering or third-party allotment, and is looking into the option of allocating shares mainly to overseas investors, the person said.

However shareholdersare not happy with the move. Shares of Toshiba fell as much as eight percent as news on the capital injection plan leaked out. They were down 4.5 percent by mid-morning, underperforming the benchmark Nikkei average’s one percent fall.

Strapped with liabilities arising from its bankrupt US nuclear unit, Toshiba agreed in September to sell its prized chip unit, Toshiba Memory, to a group led by Bain Capital for $18 billion. It needs to beef up its balance sheet by the end of the fiscal year in end-March to avoid a possible delisting.

Toshiba wants to finalise the capital injection plan by year end because it would need shareholder approval depending on the offering price and scope of share dilution.

Toshiba has said that it is aiming to close the deal to sell its chip business by the end of March, saying nothing specific had been decided regarding any funding plans.

Announcing half-year results a day earlier, Chief Financial Officer Masayoshi Hirata said Toshiba had launched a working group to consider various options to raise capital in case the deal did not close in time. He offered no specifics.

Toshiba reported robust second quarter results with a 76 percent jump in operating profit driven almost entirely by a strong performance from its memory chip unit.

If Toshiba fails to close the sale in time, that could keep Toshiba in negative net worth for a second year in a row, putting pressure on the Tokyo Stock Exchange to delist it.