TOKYO, Sept 5 (Reuters) - Japanese steel giant JFE Holdings said on Tuesday its board has approved a fundraising plan through a public share offering and convertible bond issuance to overseas investors, totalling 211.4 billion yen ($1.44 billion).

The company will raise 121.5 billion yen by offering 55 million treasury shares and raise another 89.9 billion yen by issuing a five-year convertible bond, it said in regulatory filings.

The Nikkei newspaper had earlier reported the fundraising plan by JFE, Japan's second-largest steelmaker by output, for environmental investments.

JFE shares fell 8.5% in Tokyo market trading on Tuesday morning. ($1 = 146.5500 yen) (Reporting by Kantaro Komiya; Editing by Muralikumar Anantharaman)