Early last month, Sony Corp. announced it would be publicly listing a portion of its financial unit on the Tokyo Stock Exchange. At the time, many analysts believed that the approximately $3 billion that Sony would raise from the initial public offering of Sony Financial would be channeled into its electronics division.

　　Today, Sony has firmed up its numbers for when the stock is listed on October 11. According to Reuters, Sony has decided to set Sony Financial's IPO price at 400,000 yen (approximately $3,455), and will list 795,000 shares, or 40 percent, of the wholly owned unit, in addition to 75,000 new shares being sold. Previously, financial news service Bloomberg reported that Sony would list only 34.5 percent of its financial group, at an IPO of 415,000 yen (approximately $3,585). In total, the sell-off will raise 348 billion yen (approximately $3.03 billion) for Sony.

　　Reuters confirmed analyst predictions that Sony would channel the funds raised by the IPO into its electronics and games divisions. Despite a $237 million quarterly loss from its games arm, the company posted a quarterly net profit of $540 million on revenue of nearly $16.1 billion.