Japanese government flogs Nintendo shares

February 26th, 2007, 20:01 Posted By: wraggster

via cvg

Japan's government will sell off a hefty 1.987 million shares of Nintendo held by government-controlled The Banks' Shareholdings Purchase Corp.

This resulted in the company posting the biggest decline in share value in three weeks, taking a fall of 2.7 percent.

The sale, as reported by Bloomberg, was prompted by Nintendo to boost liquidity and increase the number of individual shareholders.

The shares will be prices between March 5 and March 8, however as of Friday 23, Nintendo valued the stake at 67.3 billion yen (around £283 million).

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