Dec 21, 2020 07:56 AM (GMT+8)
Softbank will file an initial public offering on Monday for its first special purpose acquisition company, raising $500 million to $600 million, according to multiple sources. Spac is a kind of shell company without specific business. It will be listed in the form of IPO, and the listing cost will be borne by investors. The only purpose of SPAC is to acquire unlisted companies with promising prospects, so that the merged companies can be listed quickly. Goldman Sachs and Citigroup are in charge of listing Softbank spac, which will be used to acquire a company Softbank has never invested in. Softbank is said to be preparing at least two other spacs.
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