ALL - Sony Finds 2.8 Billion Under The Sofa
Following recent reports made earlier this month that Sony will hold a massive IPO (Initial Public Offering), it has managed to live up to the success many had predicted. The IPO became Japan's biggest offering since November 2006 with Aozora Bank Ltd.'s 351 billion Yen offering.
The initial offer per share was approximately 415,000 Yen. But sensing that their was a low demand activity, officials at Sony decided to drop it to 400,000 Yen each. In doing so, Sony has managed to sell a total of 800,000 Financial Holdings Inc. shares.
Further reports have detailed that the total money earned (US $2.8 billion) will be utilized to fund Sony projects Bravia TV and the Playstation consoles. And according to Masaki Iso, Yasuda Asset Management Co. Japanese Equities Head, “The price is acceptable considering it was set when the stock market hadn't fully recovered from the sub-prime shock. Sony Financial's stock has potential to rise as the market will recover.”
At the close of the Tokyo Stock Exchange, Sony's shares gained 1.4 to 5,650 Yen.
Contact Us
Absolute PlayStation News v3.00 © 1995-2007 (P l i g g)
Playstation | PlayStation 2 | PlayStation 3 | PlayStation Network | Play Free Games | Buy PlayStation Games
PS2 News | PS3 News | PSP News | Playstation News
Currently our most popular pages include the PS2 cheats for FIFA 2007 and Lego Star Wars 2 cheats, with Bully cheats for PS2 and Guitar Hero 2 cheats for the Playstation 2 coming a close second. Fans of Need for Speed Carbon on the PS2 will be pleased to see that its racing up the charts too.
Discuss
Comments