TOKYO, Reuters – Toshiba Corp shares rose more than 3% Friday after it announced that it will solicit offers for deals, which could include a buyout. This boosts the possibility of a profitable exit for investors in its hedge funds.

Japanese conglomerate Nomura Securities, which is locked in an ongoing battle with major shareholders about its strategy, announced on Thursday that it has hired Nomura Securities to be its financial advisor on strategic alternatives.

These would also include privatisation, the report stated.

This decision comes as a result of its shareholders voting down last month’s proposal to split off the devices unit.

Toshiba Shares were at 5.343 yen 0117 GMT, an increase of 3.6%