Sony Sets 300 Billion Yen Share Sale Price 3% Below Close
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Sony Corp. said it expects to raise as much as 300 billion yen ($2.4 billion) after setting a price for new common shares it is selling to raise money for boosting chipmaking capacity.
The shares will be offered at 3,420.5 yen apiece to investors, the electronics maker and entertainment producer said Monday in a statement. That’s about 3 percent less than Monday’s closing price. The company is also offering 120 billion yen in bonds due in 2022 and convertible to shares at 5,008 yen.