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Mitsubishi considering IPO to repay 2004 bailout

Mitsubishi Motors Corp is considering various options including a public share offering, as the Japanese carmaker seeks funding to buy back preferred shares from other Mitsubishi companies, in a move that would mark its emergence from a decade of financial support, Reuters has reported, citing people familiar with the situation. The capital hike could allow Japan's sixth-biggest automaker by sales volume, to pay back its biggest shareholders for a 2004 bailout and resume dividend payments after a decade and a half. "While Mitsubishi Motors is considering various measures regarding the treatment of preferred stock, there has been no decision made," company spokeswoman Namie Koketsu said.