Sony invests $400 million in Chinese video site Bilibili

Chinese video site Bilibili will receive 400 million U.S. dollars equity investment from Sony Corp America, Bilibili said Thursday, as the two companies seek to further collaborate in entertainment to attract China's Gen Z.SCA, wholly owned subsidiary of Sony Corp, will subscribe for 17,310,696 newly issued Class Z ordinary shares of Bilibili at 23.1071 U.S. dollars per share, Bilibili said. Upon closing, SCA will beneficially own approximately 4.98 percent of Bilibili's total issued shares, with a lock-up period of six months, it added. Bilibili and Sony will further collaborate in the entertainment business in China, including in anime and video games, Bilibili said.