SoftBank shares untraded with glut of buy orders after buyback announcement

TOKYO (Reuters) - SoftBank Group Corp shares were untraded with a glut of buy orders on Tuesday after the company announced up to $41 billion (£35.52 billion) 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.

Reuters March 24, 2020 06:05:25 IST
SoftBank shares untraded with glut of buy orders after buyback announcement

SoftBank shares untraded with glut of buy orders after buyback announcement

TOKYO (Reuters) - 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) 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.

(Reporting by Sam Nussey)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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