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SoftBank Poised to Reap $16 Billion Profit as Coupang Boosts IPO

SoftBank Poised to Reap $16 Billion Profit as Coupang Boosts IPO Bloomberg 3/9/2021 Pavel Alpeyev (Bloomberg) SoftBank Group Corp., the biggest shareholder in Coupang Inc., stands to reap an enormous windfall when the South Korean e-commerce leader goes public this week, giving founder Masayoshi Son further evidence his often-criticized startup bets are paying off. The Japanese company owns about 35% of the startup and could report an unrealized gain of as much as $16 billion after Coupang raised the target price range for its initial public offering. That would be the SoftBank Vision Fund’s largest-ever startup profit booked in a single quarter since it began reporting results in 2017.

SoftBank to File Its First SPAC on Monday, Axios Reports

SoftBank to File Its First SPAC on Monday, Axios Reports Bloomberg 12/20/2020 Jessica Park © Bloomberg The SoftBank Corp. logo is displayed inside a store in Tokyo, Japan, on Tuesday, April 14, 2020. SoftBank Group forecast a record 1.35 trillion yen ($12.5 billion) operating loss for the fiscal year ended in March, a sign of how badly Masayoshi Son s bets on technology startups have been battered in recent months. (Bloomberg) SoftBank will file to raise between $500 million and $600 million through a public offering of a special purpose acquisition company, Axios reported, citing multiple unidentified people familiar with the plans. It would be the first SPAC for SoftBank. The company is also preparing at least two additional vehicles, Axios said.

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