Sony shares dive over bond issue
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TOKYO, Nov 15 AFP
November 15 2012, 12:57AM
Shares in Sony have dived more than 10 per cent to lows not seen since 1980 after the troubled Japanese electronics maker announced it would issue bonds worth Y150 billion ($A1.81 billion).
Sony was down 10.34 per cent at 780 yen on the Tokyo Stock Exchange.
The firm said late on Wednesday it would issue convertible bonds totalling Y150 billion to raise funds for business investment and repay debts, sparking fears of dilution of the value of each share.
The price was less than five per cent of the peak price of Y16,950 in 2000, the year PlayStation 2 was released.
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