Sony To Raise $3 Billion For Games Division
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On October 2nd, 2007 in Uncategorized -
Sony has announced that the company hopes to raise $3 billion in an IPO of its financial unit, raising the much needed money for the gaming and electronics division. Reuters reports that Sony will sell 40% of the shares in Sony Financial, total value is around 348 billion yen, or just over $3 billion USD. Sony’s game division recorded a $237 million loss last quarter, so the money is certainly needed these days.