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.
REUTERS:Carlo%20Allegri.png "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.