Nintendo Co., Ltd. has a big stock secondary offering in the works, and Wired News has learned that means the company will not be allowed to make any forward-looking statements—which means no company representative will be talking about any future offerings at GDC.
The secondary offering is 1.987 million shares of its common stock, previously held by Banks Shareholding Purchase Corporation, a government-controlled body. Nintendo spokesman Ken Toyoda said Nintendo itself initiated this trade, and SeekingAlpha says this is reportedly "to widen its shareholder base and encourage shareholding by individual investors and it saw this as a way to achieve those objectives"—citing the popularity of Nintendo DS and Wii driving interest in owning Nintendo stock.
This move appears to have made GDC a pretty dull event for Nintendo fans, with even in-the-works games like The Legend of Zelda: Phantom Hourglass being verboten for discussion. If anything does come out, we'll let you know, but it's looking highly unlikely.
The secondary offering is 1.987 million shares of its common stock, previously held by Banks Shareholding Purchase Corporation, a government-controlled body. Nintendo spokesman Ken Toyoda said Nintendo itself initiated this trade, and SeekingAlpha says this is reportedly "to widen its shareholder base and encourage shareholding by individual investors and it saw this as a way to achieve those objectives"—citing the popularity of Nintendo DS and Wii driving interest in owning Nintendo stock.
This move appears to have made GDC a pretty dull event for Nintendo fans, with even in-the-works games like The Legend of Zelda: Phantom Hourglass being verboten for discussion. If anything does come out, we'll let you know, but it's looking highly unlikely.