Shares of Japanese tech giant Rakuten jumped 20% on Monday, extending their gains after the companys announcement that it prepares to raise $2.2 billion in order to better take on its U.S. rivals.Rakuten stated on Friday it will offer an 8.3% stake to postal and banking huge Japan Post, which will be the greatest shareholder beyond the starting Mikitani household. Chinese web company Tencent will take a 3.6% stake, while U.S. retailer Walmart will purchase a 0.9% stake. Rakuten has more than 70 companies varying from e-commerce, mobile network, video streaming and financial innovation. It has a market capitalization of around 1.79 trillion Japanese yen ($ 16.4 billion). Hiroshi Mikitani, Rakutens founder, chairman and president, informed CNBC on Monday that his company is “growing extremely quickly– even at this size– and we require more capital for the development.” The logo of Japanese tech huge Rakuten logo design seen at the Mobile World Congress 2019. Paco Freire