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SoftBank shares untraded after buyback announcement

SoftBank shares closed up 19% on Monday, hitting their daily limit

twitter-logoReuters | March 24, 2020 | Updated 10:58 IST
SoftBank shares untraded after buyback announcement

SoftBank Group Corp (9984.T) shares were untraded with a glut of buy orders on Tuesday after the company announced up to $41 billion (35.52 billion euros) in asset sales and a record share buyback to shore up its collapsing share price.

SoftBank shares closed up 19% on Monday, hitting their daily limit, after the tech conglomerate said it would buy back up to 2 trillion yen worth of shares in addition to a 500 billion yen purchase announced earlier this month.

Also read: Softbank Corp to sell upto $41 billion to expand share buyback, reduce debt

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