SoftBank Group's profits reached $ 11.2 billion in the third quarter of its fiscal year ending in March of this year, that is, during the three-month period between October and December, which is what It is more than 21 times higher compared to the corresponding period of the previous year.
And according to Arabnet in a statement to the bank, the profits are due to the gains made on the investment portfolio of its Vision Fund, which follows the strategy of buying shares in private companies.
In this context, Dore Das, a food delivery service company in America, made substantial profits for a Vision Fund as a result of the rise in the price of its shares since its initial listing in December.
It is worth noting that SoftBank Group had achieved its largest losses during its fiscal year last year.
On the other hand, the group announced its plans to raise $ 630 million through the establishment of two special-purpose acquisitions, which will focus on sectors including artificial intelligence and mobile communication technology. .
This is the founding entity that operates Softbank Vision. This comes two months after establishing a similar company to raise $ 525 million.
It is worth noting that special-purpose acquisitions, or what is known as SPAC, are institutions that collect funds from investors in an effort to buy private companies and merge with them to turn them into public companies.
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