Kuries wrote a post · Jan 25 21:09

SoftBank Confirms Completion of Stake Cut in BABA, $66.6B Gain to be Booked This FY

The previous transaction of Skybridge, a wholly-owned subsidiary of $SoftBank Group (ADR)(SFTBY.US)$ , to reduce its stake in $BABA-SW(09988.HK)$ by entering into prepaid forward contracts has fully settled in physical form, as announced by SoftBank.

The related gain on sale of investment securities of JPY1,259.2 billion (about HKD66.672 billion) will be recorded as extraordinary income in its results for the fiscal year ending March, meaning that SoftBank has completely reduced its stake in BABA-SW.

$ALIBABA GROUP HOLDING LTD(BABAF.US)$ $Alibaba(BABA.US)$ $Hang Seng TECH Index(800700.HK)$ $China Concept Stocks(BK2517.US)$

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Kuries

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