SoftBank's capitalization fell by $9 billion after Uber's IPO


The failed IPO of Uber led to serious losses for the Japanese telecommunications company SoftBank, Bloomberg writes. Losses amounted to about 9 billion dollars of its capitalization. On the first day of Uber’s share placement on the New York Stock Exchange last week, the service’s capitalization fell to $69 billion, as its shares fell from 45 dollars to 41 dollars 57 cents. Thus, it turned out that before the IPO large investors invested in Uber more than its current value. In early 2018, Japanese SoftBank acquired a portion of Uber shares at $48 per share. After the Uber's IPO, the share of SoftBank, which constituted 16.3% in the capital of Uber, fell to 12.8%. By the closore of the market in Tokyo, SoftBank shares fell by 3.25%, which, according to analysts, was caused by the failed IPO of Uber. Experts note that the results of this IPO pointed to the dependence of SoftBank on any news about companies from its investment portfolio.

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