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SoftBank Group announced the early settlement of up to 242 million forward contracts for ADRs in Alibaba, reducing its stake to 14.6 percent

via:新浪科技     time:2022/8/10 18:00:44     readed:131

Softbank corp announced on August 10, the board of directors for approval in advance softbank shares settlement with several previous financial institutions use softbank owns part of the counterparty to conclude some advance forward contracts, the company shares to raise funds will be settled up to 242 million alibaba ADR forward contracts, the deal is expected to total income of 4.6 trillion yen, its stake to 14.6%. Alibaba announced on the Hong Kong Stock Exchange on the same day that the prepaid forward contracts to be settled early by SoftBank, a shareholder of the company, involve up to about 242 million American depositary shares of the company, accounting for about 9% of the total outstanding shares of the company.

SoftBank does not expect that the settlement of shares in these prepaid forward contracts will result in the sale of any additional shares of the Company by the financial institution counterparties to the market, as the shares of the Company to which these prepaid forward contracts are subject have been hedged in the market by such counterparties at the time of the realization transaction.

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