TOKYO (Reuters) - Toshiba Corp <6502.T> will decide on Monday to raise some $5 billion from overseas investors, allowing the troubled conglomerate remain a publicly traded company even if the sale of a key business is delayed, two people with direct knowledge of the process said.


Toshiba, reeling from the bankruptcy of its U.S. nuclear unit Westinghouse Co in the wake of an accounting scandal, needs to raise 750 billion yen ($6.7 billion) by the end of March to avoid being kicked off the Tokyo Stock Exchange.


The laptops-to-nuclear-reactors company has agreed to sell its prized NAND semiconductor unit for $18 billion, and is planning to sell its TV business and reportedly looking to hive off its personal-computer unit to raise cash.


But with the March deadline looming to avoid delisting and the chip sale threatened by antitrust concerns from China and elsewhere, Toshiba's board will on Monday approve a plan to raise 600 billion yen ($5.3 billion) by offering shares to a group of overseas investors, the sources said.


In addition, the sources told Reuters, Toshiba will agree to take upfront losses that will allow tax write-offs sufficient to boost its assets back above liabilities for the first time in two years - allowing the firm to remain listed.

Toshiba declined comment on the plan.

(Reporting by Taro Fuse; Additional reporting by Makiko Yamazaki; Editing by William Mallard)