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SoftBank shares slide after US$23 billion buyback scheme not extended SoftBank Group Corp shares slid 6per cent in early trading on Thursday after the conglomerate declined to extend its buyback programme, removing support for the stock as concern over frothy portfolio valuations outweighed record earnings.
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato
13 May 2021 08:35AM (Updated:
13 May 2021 10:45AM) Share this content
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TOKYO: SoftBank Group Corp shares tumbled 8per cent in morning trade on Thursday after the conglomerate did not extend its buyback programme, removing support for the stock as concern over frothy portfolio valuations outweighed record earnings.
5 Stocks To Watch For May 13, 2021 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Plant-Milk Maker Oatly Aims for $1.6 Billion Nasdaq Listing, Though Chinese Backing Could Prove a Problem
Oatly plans to further expand its business in China, its biggest Asian market, according to the prospectus. Photo: Oatly
Major plant-based milk-alternative maker Oatly Group AB has spelled out its IPO pricing, though questions remain about whether its ties with a Chinese state-owned backer could affect its Nasdaq listing.
The Swedish company expects to raise up to $1.65 billion with an offering price of between $15 to $17 per American depositary share, it said in its updated
prospectus on Tuesday. That would give it a $10 billion valuation.
As of March 31, conglomerate China Resources (Holdings) Co. Ltd. and Belgium-incorporated Verlinvest S.A. jointly hold 55.9% of Oatly through the 50-50 joint venture Nativus Co. Ltd., according to the filing.