SoftBank looks to raise about US$550mil via two more SPACs

Good haul: Pedestrians walk past a SoftBank mobile shop in Tokyo. SoftBank has tried to ride the mania for SPACs. ─ AFP

TOKYO: Two blank-cheque firms backed by SoftBank Group Corp are aiming to raise a total of about US$550mil in their initial public offerings (IPOs), regulatory filings showed on Friday.

Special purpose acquisition company (SPAC) SVF Investment Corp 2 said it would sell 20 million units, comprising shares and warrants, priced at US$10 apiece in its IPO. SVF Investment Corp 3 said it would sell 35 million shares at the same price.