SoftBank Group unveils stock split, rakes in $3.8 billion gain on Uber stake
Updated : May 10, 2019 07:26 AM IST
The news comes at a time when SoftBank and its almost $100 billion Vision Fund stand at a possible inflection point with some of its big tech bets like Uber Technologies headed towards public listings, in what investors and industry experts see as a test of SoftBank's investment strategy.
A second Vision Fund will be announced soon, SoftBank Group founder and CEO Masayoshi Son said at a news conference on Thursday, adding it would be similar in size to the first fund with SoftBank likely to be the only investor initially.
The fund's stake in Uber, which is set to make its market debut on Friday, grew 418 billion yen ($3.8 billion) in value, while its share in OYO added 154 billion yen in value.