
In February 2015, Sony announced a spin-off of its video and audio business in an attempt to return to long-term profit. At the time, it wanted to achieve an operating profit of £2.60bn by March 2018.
To further drive growth, Sony has outlined plans to raise £2.29bn via a public share issuance. This will be its first share issuance since 1989, and comes as Japan’s Nikkei 225 is at an 18-year high. According to Dealogic, Japanese companies have raised £5.85bn via 52 new share offerings so far this year. The offering is expected to dilute existing shareholders by 9.8 per cent, combined with the convertible bonds.- Business Growth Fund: From post-credit crunch experiment to 100-strong portfolio of growth companies
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