Square sells stock overseas
Square announced today that it will begin selling five million shares of stock overseas during July 9 and July 12. The main focus of this move centers around Europe, as Square hopes to stabilize movement in the market. About 9% of the company is being made available due to the resignation of Masashi Miyamoto, the company's founder. Although Miyamoto has stepped down as president of Square, he will still hold 31.04% of the stock shares, making him the company's top shareholder.
Nikko Salomon Smith Barney will conduct the sale, although no official price or delivery date has been set.
7/8/2002 Matt Stensrud