SoftBank Founder Boosts Collateral To 33% Of Stock As Stock Prices Sink

  • SoftBank Group Corp SFTBY SFTBF founder Masayoshi Son has raised the collateral stock to financial institutions as its shares plunged over 2021, Bloomberg reports.
  • Son boosted the stock pledged as collateral to ~33% of his stake or 153.3 million shares in SoftBank as its shares sank 60% from their peak last year.
  • Son disclosed an increase of about 8.05 million shares as of March 8, worth $291 million at March 15 prices.
  • Also Read: JPMorgan Downgrades Alibaba and Other China Tech Stocks Following Selloff; Calls It "Uninvestable" For Next 6-12 MonthsDiDi Had To Postpone Its IPO After Jack Ma's Ant: Bloomberg
  • Daiwa Securities Group Inc DSEEY DSECF and UBS Group AG UBS Tokyo Branch enjoyed the most significant increase in collateral. 
  • Son-backed companies, including China's DiDi Global Inc DIDI, Indian payments pioneer Paytm, and Alibaba Group Holding Ltd BABA, where it owned a significant stake, have suffered a tech market downturn. 
  • Price Action: SFTBF shares traded lower by 1.24% at $36.95 in the market session on the last check Tuesday.
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