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Saturday, March 25, 2000
Softbank To Hold Off On Issue Of New Shares

TOKYO (Nikkei)--Softbank Corp. (9984) appears to have decided to hold off on a capital increase via an
issue of new shares at market price, after failing to reach an agreement on the move at a board meeting that
began Friday night, informed sources said.

The downward trend in Softbank`s share price apparently
prompted board members to lean toward holding off on
the issue.

Since setting a high of 198,000 yen on Feb. 15, the
share price had shed nearly half its value, closing at
101,000 yen on Thursday. Rumors that Softbank was
weighing the issue of new shares led to Friday`s sharp
decline.

As a result, the company now plans to sell shareholdings to help fund its investments in start-up firms and other areas.

Softbank has already raised just over 200 billion yen in cash for the fiscal year ending March 31 by selling
shares in companies such as Trend Micro Inc. (4704)
and Softbank Technology Corp. (4726).

But Softbank finds itself needing more funds to fuel its investment activities, which are rapidly expanding. The company will lay out 50 billion yen if a group it is leading is able to purchase Nippon Credit Bank, and it intends to pour 150 billion yen into an investment fund targeting Internet start-ups.

(The Nihon Keizai Shimbun Saturday morning edition)
 
aus der Diskussion: Nur so nebenbei! Softbank gerade bei 1070 zu 1110 Euro bei L&S
Autor (Datum des Eintrages): Stockoperator  (25.03.00 14:07:55)
Beitrag: 6 von 16 (ID:693368)
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