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SoftBank Unloads $22B Worth of Alibaba Derivatives to Raise Money
source link: https://nextbigwhat.com/softbank-unloads-22b-worth-of-alibaba-derivatives-to-raise-money/
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SoftBank Unloads $22B Worth of Alibaba Derivatives to Raise Money
- SoftBank Group Corp. has raised as much as $22 billion in cash through the sale of prepaid forward contracts using Alibaba Group Holding Ltd. shares.
- SoftBank has this year executed the sale of about a third of its Alibaba stake through these contracts, a type of derivative that allows the Japanese company to raise cash immediately while retaining the possibility of holding on to the shares.
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