Panasonic shares surge as stake sale plan sparks restructuring hopes

Panasonic Corp's logo is pictured at Panasonic Center in Tokyo, Japan, February 2, 2017. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) - Shares of Japan's Panasonic Holdings have rallied about 10% since it announced on Friday a plan to sell a stake in its automotive systems business and the unit's potential listing raised broader restructuring hopes.

The shares surged for a second session on Monday after posting their biggest one-day jump in half a year on the final day of last week on news the company wants to sell a stake in the unit to Apollo Global Management-run funds.