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.
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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.