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Sony Tracking Stock Makes Weak Debut

June 21, 2001|Reuters

Tracking shares in a Sony Corp. unit that operates an Internet service provider made a weak debut on the Tokyo Stock Exchange.

Japan's first-ever tracking stock failed to trade until the afternoon, and then closed at 2,950 yen, down 10.6% from its initial public offer price of 3,300 yen.

Sony has raised about $81.40 million through the issuance of 3,072,000 tracking shares.

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