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Sony shares seen surging after Reuters reports Third Point building stake again

 Sony shares seen surging after Reuters reports Third Point building stake again

TOKYO (Reuters) - Shares of Sony Corp were untraded early Tuesday with a glut of buy orders after Reuters reported that Daniel Loeb's hedge fund Third Point LLC was building a stake in Japanese electronics conglomerate again to push for changes.

Third Point, which has about $14.5 billion in assets under management, is raising a dedicated investment vehicle to target between $500 million and $1 billion in capital, so it can buy more Sony shares, people familiar with the matter said.

(Reporting by Makiko Yamazaki; Editing by Chang-Ran Kim)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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Updated Date: Apr 09, 2019 06:05:17 IST

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