Share sale prompts Mazda stock dive

Mazda stock dived nearly 7% today after the struggling car maker said it will raise about 163bn yen (€1.5bn) from selling new shares to invest in assembly plants and developing new vehicle technologies.

The Japanese company, which makes the Miata sports car, said in a statement it aims to have half of its vehicle production based overseas by early 2016 as part of plans to make its business more competitive.