SoftBank Group Corp on Thursday sold a 4.5% stake in Indian digital payments giant Paytm through block deals for $200 million, sources told Reuters, leading to a sharp fall in the shares of the Indian company.
through block deals for $200 million, sources told Reuters, leading to a sharp fall in the shares of the Indian company.
SoftBank's sale of 29.35 million shares at that price amounts to a total consideration of $200 million, according to Reuters calculations. Paytm shares fell more than 9% on news of the trade, which comes a day after the lock-in period for investors in Paytm's November 2021 initial public offering (IPO closed.
The shares are being bought largely by hedge funds, including Millennium Capital, Segantii Capital Management, Ghisallo Capital Management, with other buyers including Norges Bank, Norway's central bank, said one of the people with direct knowledge of the matter.
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