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SONY ACQUIRES MINORITY STAKE AT CHINESE DIGITAL PLATFORM BILIBILI 9 APR 2020

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SONY ACQUIRES MINORITY STAKE AT CHINESE DIGITAL PLATFORM BILIBILI

The company has arranged to pay $400 million for a minority stake in the Chinese online entertainment platform, whose stock is traded in ADR form in the U.S. on the NASDAQ exchange, at $23.1 per share. Before Bilibili announced its ADR shares, it finished trading on Wednesday at $26.20 a piece. The deal with Sony will increase the platform's value to $8 billion.