P.M. BRIEFING : Sony to Issue Stock for Investment
<i> From Times wire services</i>
TOKYO —
Sony Corp. said today it will issue 30 million new shares in the Japanese market next month to raise funds for the company’s capital expenditures and investments.
The Tokyo-based electronics company said the new shares will be offered through three major Japanese securities firms, Nomura, Yamaichi and Nikko. The issue price will be determined at a board meeting early in July. It will not be less than the par-value of 50 yen per share, the company said.
The offering will not be made in the United States or Canada, or to American and Canadian nationals, the company said. The company’s outstanding shares totaled 286,954,216 at the end of May this year, it said.
