09-Apr-20, Reuters 

HONG KONG (Reuters) - Chinese video site Bilibili will receive $400 million equity investment from Sony Corp America, as the two companies seek to further collaborate in entertainment to attract China’s Gen Z.

Sony invests 400 million in Chinese video site Bilibili(c)REUTERS:Carlo Allegri

Image: REUTERS/Carlo Allegri

SCA, wholly owned subsidiary of Sony Corp, will subscribe for 17,310,696 newly issued Class Z ordinary shares of Bilibili at $23.1071 per share.

Upon closing, SCA will beneficially own approximately 4.98% of Bilibili’s total issued shares, with a lock-up period of six months.

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