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Rakuten Prices Sale of Rakuten Bank Shares

Moomoo 24/7 ·  12/07/2023 14:47

Rakuten Group (TYO:4755) is selling 24.6 million shares in its consolidated subsidiary, Rakuten Bank, at 2,470 yen apiece, for gross proceeds of 60.6 billion yen, according to a Thursday bourse filing.

After the sale, the financial technology company's holdings in Rakuten Bank will be reduced to 49.27% from 63.34%, the filing said.

Rakuten Bank will remain a consolidated subsidiary.

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