About 90 per cent of the options, which accompanied SoftBank shifting part of its cash reserves into listed tech stocks, will be closed out by the end of December, Bloomberg said. The investments by SB Northstar, which is headed by Abu Dhabi-based Akshay Naheta, caused consternation in markets, leading to SoftBank being dubbed the “Nasdaq Whale” in some media reports. Chief Executive Officer Masayoshi Son last month described the derivatives as a “rounding error” when compared to the group’s broader portfolio. The company’s shares, which have gained 53 per cent this year, were flat in Tokyo trading. A SoftBank spokeswoman declined to comment on the report.

Source: Dhaka Tribune December 02, 2020 16:30 UTC