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Deepti Sri · · 1 min readSoftBank sells DoorDash shares worth $2b
“Masayoshi Son has tapped his shareholdings in DoorDash for the third time in just six months, selling US$2 billion worth of SoftBank’s stake in the food delivery giant,” reported The Economic Times.
Details:
- SoftBank Vision Fund sold 10 million shares in DoorDash at US$202.815 apiece on October 27, according to a filing with the US Securities and Exchange Commission.
- Currently, SoftBank has 33.6 million shares, which equates to about 11% stake in the food delivery firm. This is just over half of the stake that the Japanese conglomerate held at the time of the listing in December 2020.
Dive deeper:
- In September, Vision Fund cashed in on one of its most lucrative investments by selling shares in South Korean ecommerce company Coupang that were worth US$1.7 billion.
- SoftBank sold nearly US$14 billion in listed stocks during the June quarter, about triple the amount from the previous corresponding period.
Editing by Collin Furtado and Eileen C. Ang
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