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SoftBank Group Announces Secondary Offering Of Shares Of SoftBank Corp.

SoftBank Group Corp. (SFTBY.PK,SFTBF.PK) has decided on a secondary offering of a portion of its holding of common stock of subsidiary SoftBank Corp., which it holds through its subsidiary SoftBank Group Japan Corp. SoftBank Group Corp. believes it is necessary to expand cash reserves due to the ongoing uncertainty in the market environment due to concerns about a potential second or even third wave of COVID-19.

SoftBank Group Corp. and SoftBank Group Japan Corp. intend to maintain their holding of the remaining shares for the medium to long term. SoftBank Corp.'s strategic importance to the entire SoftBank Group remains unchanged, the company noted.

SoftBank Group Corp. will announce the final number of shares to be offered, the total offer price, and the net proceeds from the secondary offering as soon as they are determined.

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