TOKYO (dpa-AFX) - Japanese telecom company SoftBank Corp. (SFTBY.PK) announced on Monday that it will issue Series 1 Bond-Type Class Shares and will reduce its common stock and additional paid in capital by the amount that has increased due to the issuance of the bond type class shares.
The telecom intends to use the proceeds of 116.4 billion yen to finance growth investments like realization of services using generative AI, the construction of next-generation social infrastructure, and procurement of renewable energy.
Shares of SoftBank closed at 1764.50 yen up 0.63% on the Tokyo Stock Exchange.
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