Softbank plans to sell 22% of its mobile phone company shares

Next September, SoftBank Group plans to sell a maximum of 22% of its shares in its mobile phone subsidiary.

According to Arabiya Net, that stake is about 1.028 billion shares of her company, whose price was valued at Friday's closing price of 1 trillion and 470 billion yen. < / p>

The sale price will be determined on the 14th of next month.

The group had recorded in its financial results for the period from April to June profits related to the sale of shares of the American company T-Mobile, and its net income increased by 12% on an annual basis, reaching To 1 trillion and 255.7 billion yen, its highest on a quarterly basis.

On the other hand, the subsidiary Softbank announced that it would buy back shares worth up to 100 billion yen (1.68% of issued shares). The period of its acquisition will extend from October 1 to the end of March 2021.

The Softbank Group continues to sell its assets worth 4.5 trillion yen, or nearly $ 43 billion, and has already raised about 4.3 trillion yen. With the selling of Softbank subsidiary shares, the volume of its assets sold is expected to reach approximately 6 trillion yen.

In addition, Japanese magazine Toyo Kizai said that the SoftBank Group is working to accelerate the pace of its investments in US stocks listed on the stock exchange, which revolves around information technology companies abroad .

A document filed with the US Securities and Exchange Commission (SEC) on August 17th revealed that, as of the end of June this year, the group acquired shares in 25 brands including Amazon and Microsoft.

and these investments are linked to the asset sale program announced by Softbek Group in March 2020. The program sells and funds assets worth 4.5 trillion yen in order to buy back its shares and reduce debt. (Equivalent to $ 43 billion).

It was planned that the implementation of this program would take a whole year, but the value of the assets it acquired in early August reached 4.3 trillion yen.

as the goal is to reinvest more than 1 trillion yen in listed stocks during the period from April to June, in order to manage the funds obtained From selling assets.

and what has already been sold ...