BlackRock Doubles Stake In SoftBank To 5.2%: Bloomberg

BlackRock Inc BLK has more than doubled its stake in SoftBank Group Corp SFTBY SFTBF from 2.5% to 5.15%, making it the fourth-largest stakeholder after Masayoshi Son at 33.33%, Nomura Holdings Inc NMR at 6.84%, and JPMorgan Chase & Co JPM at 5.79%, Bloomberg reports.
SoftBank’s stock has more than tripled from its pandemic low in last year’s March, supported by its $23 billion buybacks.
The stock lost 20% from a two-decade high in mid-March, despite a Q4 earnings beat.
SoftBank plans to raise $3.7 billion from the yen-denominated bond sale, Bloomberg reports.
Price action: SFTBF shares traded lower by 2.62% at $78.35 on the last check Wednesday.