Shares in Japanese conglomerate SoftBank Group Corp tumbled 5.5% on Friday, a da...
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo
A successful market debut of Uber will be seen as a test of SoftBank’s investment strategy, as other big tech firms in its almost $100 billion Vision Fund also head toward public listings. “ shares have gone up ahead of Uber’s IPO, but some investors may have sold shares once the price was decided,” said Tsutomu Yamada, a market analyst at Kabu.com Securities.Shares in SoftBank tumbled as much as 5.5% on Friday, its biggest percentage drop in five months, wiping $6 billion off its market capitalization. The group is now valued at around $104 billion.
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