UBS makes, retracts $31 billion Capcom investment
A $31 billion investment isn't something that should be undertaken lightly, especially when financial markets are imploding across the globe. So it was with no uncertain shock that Capcom discovered last night that Swiss banking giant UBS AG had placed a ¥3 trillion ($31 billion) order for...
A $31 billion investment isn't something that should be undertaken lightly, especially when financial markets are imploding across the globe. So it was with no uncertain shock that Capcom discovered last night that Swiss banking giant UBS AG had placed a ¥3 trillion ($31 billion) order for convertible bonds in the publisher, a transaction that would have been the biggest ever on the Tokyo Stock Exchange.
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As explained by Capcom on its official blog, "The official Capcom happy-dance began when we heard that financial titan UBS AG placed an order for 3 TRILLION yen (that's 31 billion bucks!) in Capcom stock yesterday. We were unfortunately forced to reveal that there, um, isn't ¥3 trillion worth of Capcom stock for sale, so they revised their order to a measly ¥31 million."
Reuters reports that the errant trade was the result of a computer system error, and that UBS had intended the buy to be ¥31 million ($314,000) all along. As the order was reportedly placed by way of an off-hours trading system, it had no material impact on the game publisher and was canceled at no cost to UBS.
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