SoftBank Offloaded Stake Worth 2B In DoorDash

SoftBank Group Corp's SFTBY SFTBF Vision Fund had offloaded shares worth $2 billion in DoorDash Inc DASH.
On October 27, SoftBank's Vision Fund unloaded 10 million shares at $202.815 a piece, the filing with the U.S. SEC said.
In May, SoftBank sold $1 billion worth of DoorDash stock and raised $2.2 billion from a sale in August, Bloomberg reports.
The latest sale of DoorDash stock leaves SoftBank with 33.6 million shares, or 11% stake, marking just over half of the stake it held at the time of the listing in December.
SoftBank reflected a new appetite for exits to finance the accelerating pace of deal-making at his Vision Fund investment arm. SoftBank's selloff included significant portions of its stakes IPO hits like DoorDash, Coupang Inc CPNG, and KE Holdings Inc BEKE.
SoftBank used the stakes to borrow billions of dollars. Vision Fund arranged two margin loans in September, regulatory filings show.
The loans will help fund distributions to investors, including sovereign wealth funds from Saudi Arabia and Abu Dhabi, Tokyo-based SoftBank Group.
Price Action: DASH shares traded higher by 0.46% at $195.69 premarket the last check Monday.