SoftBank Pursues Fundraising Through SPAC IPO for the First Time
![[Image source=Reuters Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2020091307002577143_1599948026.jpg)
[Asia Economy Reporter Jeong Hyunjin] Japanese SoftBank is reportedly pursuing fundraising through a Special Purpose Acquisition Company (SPAC) listing for the first time, according to the US internet media Axios on the 20th (local time).
Axios, citing multiple sources, reported that SoftBank will file for an IPO of a SPAC for the first time on the 21st, aiming to raise about $500 million to $600 million. Previously, Axios reported that Goldman Sachs and Citigroup are handling related procedures as SoftBank plans to acquire a company it has not invested in.
Hot Picks Today
Cerebras Soars 70% on IPO Debut: Is Nvidia's Reign Ending as a New AI Semiconductor Power Emerges?
- There Is a Distinct Age When Physical Abilities Decline Rapidly... From What Age Do Strength and Endurance Drop?
- "Multi-Million Won Bonuses, Life Is Sweet"—Even Employee Reactions... SK hynix Overtakes Samsung to Claim No. 1 Spot
- "It Costs 100,000 Won for Two Hours"...No Place for Kids to Play if Parents Can't Afford It
- Japanese Teacher Dismissed for Obscene Acts Involving Third-Grade Girl's Water Bottle
Axios added, "SoftBank plans to use the funds raised through this SPAC to acquire companies it has not invested in so far," and "it will undertake at least two more rounds of fundraising through SPACs in the future."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
