Shares of SoftBank Group Corp have surpassed $95.58, reaching their highest levels in two decades, following the group's announcement of record profits amid a surge in company listings.
SoftBank's shares climbed by 3.3% to $93.67 before exceeding $95.58. According to Reuters, the company reported a recovery in the value of its portfolio after startup firms like home-selling platform Opendoor moved toward going public. Key shares from the first $100 billion Vision Fund portfolio, including companies Didi and Grab, are expected to be listed. The Group's CEO stated that the Vision Fund recorded profits of $8 billion in the last quarter of 2020, rebounding from its losses the previous year. Since its inception, the Vision Fund has reported total gains of $20.4 billion, with its investments valued at $90 billion compared to a purchase price of $76.3 billion.
