Softbank Corp. plans to raise ¥200 billion selling shares of a subsidiary to help finance its acquisition of Vodafone Group PLC’s Japan unit.
SFJ Capital Ltd., a Cayman Island unit of Softbank, will set terms next month for the sale of the preferred stock, which will be offered to individuals and investors in Japan, Softbank spokesman Takeaki Nukii said Monday.
Softbank said the proceeds from the planned sale will help pay for its $5 billion acquisition of financial instruments from Vodafone. The sale will have a minor impact on Softbank’s earnings, the company said. Softbank is Japan’s third-largest mobile-phone company.
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