SoftBank up on news of hunt to add US$7 billion to tech fund
Shares jumped as much as 2.6% on Monday
Reports of SoftBank’s search for an additional US$7 billion for its tech fund sent the Japanese blue chip up as much as 2.6% in Tokyo on Monday. Shares closed up 1.56%.
The additional US$7 billion, currently being discussed with investors in Canada and the Middle East, would bring the total investment to US$100 billion.
SoftBank previously said they will commit US$28 billion to the fund, along with backing from sovereign wealth funds of Saudi Arabia and the United Arab Emirates, Apple, Foxconn, Qualcomm and Sharp.