SoftBank to offer US$2.1b Uber stake via Goldman: sources

[NEW YORK] SoftBank Group is selling US$2.1 billion of its stake in Uber Technologies in a block trade through Goldman Sachs, according to people familiar with the matter.

SoftBank, Uber's largest investor, is trimming its stake in the ride-hailing giant from 184 million shares as of March 31. SoftBank is also a significant investor in Chinese ride-hailing giant Didi Global, which saw its share price tumble following Beijing's regulatory crackdown.

SoftBank aims to sell 45 million shares with a price range of US$44.15 to US$46.14, according to people familiar with the details who asked not to be identified discussing private information.

Uber shares fell 5.1 per cent in post-market trading, while rival ride-hailing firm Lyft fell 0.9 per cent in an apparent sympathy trade.

The block trade is worth about US$2.1 billion based on the latest closing price. The price range implies a maximum discount of 4.3 per cent from Wednesday's close for an offering that represents nearly three full days of average trading volume.

The transaction arrives one week before Uber reports earnings. Uber will announce quarterly results on Aug 4 after the market closes.

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CNBC earlier reported that SoftBank was selling shares.

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