Photo by MIKI Yoshihito on Flickr
Tokyo-based SoftBank Group (SFTBY) sold nearly $14 billion worth of listed stocks last quarter.
What Happened: The investment group shed nearly $3.5 billion in Facebook Inc (FB) and $2.9 billion in Uber Technologies Inc (UBER).
The Masayoshi Son-founded SoftBank Group also liquidated positions in Microsoft Corp (MSFT), Alphabet Inc (GOOG, GOOGL), Salesforce.com Inc (CRM), Netflix Inc (NFLX), and Amazon.com Inc (AMZN) in the three months ended June 30.
Why It Matters: SoftBank Group poured $15 billion into private startups last quarter most of which came from proceeds of the share sales, Bloomberg News reported on Tuesday.
The conglomerate has also doubled the pot for Vision Fund 2, where the company is a sole investor, to $40 billion since the end of March.
Son is known to hold on to investments and the development signals a new appetite for exits to finance the accelerating pace of deal-making at SoftBank's Vision Fund investment arm. The company poured $15 billion into private startups last quarter alone, about half of which came from proceeds of the share sales.
Price Action: SoftBank shares closed 2.22% lower at $29.10 on Tuesday.
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