SoftBank sells US$2bil in Uber stock as ride-hailing recovers

SoftBank still holds about 184.2 million shares, according to the filing, worth about US$10bil at current prices.

TOKYO: SoftBank Group Corp.’s Vision Fund sold about US$2bil in Uber Technologies Inc stock after a rally in the ride-hailing giant’s shares, signaling it may cash in more gains from the sector in the future.

An affiliate of the investment fund called SB Cayman 2 sold 38 million shares on Jan 7 at an average price of US$53.46, according to a filing with the US Securities & Exchange Commission.