TOKYO :Japanese online financial conglomerate SBI Holdings Inc said on Saturday it has raised its stake in SBI Shinsei Bank to 53.74 per cent from 50.04 per cent through a tender offer as a step toward taking the midsize lender private.The completion of the tender offer on Friday helps prepare for the expecte
TOKYO :Japanese online financial conglomerate SBI Holdings Inc said on Saturday it has raised its stake in SBI Shinsei Bank to 53.74 per cent from 50.04 per cent through a tender offer as a step toward taking the midsize lender private.
SBI Holdings said last month it would launch the tender offer for Shinsei, with plans to pay 2,800 yen per share, for up to 154.2 billion yen in total. That remains far below the 7,450 yen share price the government would need to recoup the value of its loan to Shinsei.
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