Salem Radio Network News Tuesday, October 26, 2021

Business

SoftBank’s Vision Fund sold 57 million Coupang shares for $1.69 billion

TOKYO (Reuters) – SoftBank Group’s Vision Fund sold 57 million shares in South Korean e-retailer Coupang Inc for about $1.69 billion, according to a U.S. regulatory filing.

Vision Fund sold 57 million Coupang shares at $29.685 each, and holds 568.2 million shares of the e-commerce firm following the sale, the filing showed https://bit.ly/3ClGkxi.

Coupang declined to comment.

In August, Vision Fund posted a first-quarter profit of 236 billion yen ($2.15 billion).

($1 = 109.8800 yen)

(Reporting by Kanishka Singh in Bengaluru and Tetsushi Kajimoto in Tokyo; Additional reporting by Joyce Lee in Seoul; Editing by Chang-Ran Kim and Shounak Dasgupta)

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