Alibaba’s Softbank Driven Placement
Softbank Group (9984 JP) announced yesterday that it would sell assets worth US$41bn in order to fund the repurchase of US$18bn worth of its own shares with the balance amount to be used for debt repayments.Given that the bulk of Softbank's assets and value rests in its 25.2% stake in Alibaba Group (BABA US) a placement over the next few months remains imminent.
In this note, I'll take a look at the likely impact of the sale on Alibaba.
SoftBank Group is a holding company. Domestic Telecommunications business provides mobile communication services, mobile devices, broadband services to retail customers, and telecom services to corporate customers in Japan. Sprint business provides mobile communication services and fixed-line telecommunication services in the U.S. Yahoo Japan business operates Internet-based advertising and e-commerce business. Distribution business distributes mobile devices overseas, and sells software and mobile device accessories in Japan. ARM business designs microprocessor intellectual property and related technology. SoftBank Vision Fund & Delta Fund business is engaged in the investment activities.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
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