SoftBank likely to sell shares worth up to US$105 million in PB Fintech: report

SOFTBANK Group is likely to sell shares worth up to US$105 million in India’s PB Fintech via block deals, CNBC-TV18 reported on Thursday (Oct 5), citing sources.

The indicative price for the block deals is likely in the range of 752 Indian rupees (S$12.35) to 767 rupees per share, CNBC-TV18 said.

Shares of PB Fintech, parent of online insurance aggregation platform PolicyBazaar, closed at 767 rupees on Thursday.

SoftBank may sell a 2.54 per cent stake in PB Fintech at a discount of up to 2 per cent, CNBC-TV18 reported.

PB Fintech and SoftBank did not immediately respond to Reuters requests for comment.

As at June 2023, SoftBank holds a 4.39 per cent stake in the company through its venture capital fund, according to exchange data. REUTERS