Dentsu Inc made the announcement for their plans to raise funds that will help pay for the deal that they made with Aegis Group PLC. Dentsu is opening a public share sale to raise US $1.2 billion or ¥120.1 billion.

The proceeds from the public share sale will be used to repay the short term debt that they acquired from the acquisition of Ageis.

Nomura Holdings Inc plus 5 other firms were hired by Denstu to arrange public share sale in Japan and in overseas markets, according to a filing made with the Japan Finance Ministry.

Dentsu Inc is the biggest advertising agency in Japan. The $4.8 billion deal with Aegis made Dentsu the biggest independent buyer for advertising space, thus reducing its reliance for advertising in the domestic market.

The acquisition of Aegis made Dentsu a forerunner alongside other global firms Omnicom Group Inc and WPP PLC.