Sony, a major Japanese manufacturer of computer electronics, is not going to make any structural changes within itself.
Earlier, a major Sony shareholder offered the corporation to turn its entertainment department into a separate company and make IPO. However, the corporation’s board of directors decided to maintain the integrity of Sony Corp.
It should be noted that Third Point, a major hedge fund owning 6.9% stake of Sony’s stock offered Sony to sell 20% of Sony Entertainment through IPO. In July the hedge fund bought more of Sony’s stock. Experts say that the IPO could increase Sony’s capitalization by 60%.
At this point, the stock is trading around $21,76 per share. The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of SNE:
