The worst seems to be behind SoftBank Group Corp. Its stock price has surpassed its dot-com peak, thanks in part to aggressive share buybacks and the successful initial public offerings of its unicorns, such as food delivery startup DoorDash Inc.
It’s a good time to be a startup aspiring to go public. Investors plowed more than $83 billion into blank-check companies last year — and 11 days into 2021, they’ve invested $7.2 billion more.
A new fundraising frenzy that swept Wall Street this year looks set to take hold in Asia with more than a dozen special purpose acquisition companies, or SPACs, on the hunt for fast-growing technology firms that are ready to go public.
SoftBank Group Corp. plans to file Monday to raise at least $500 million through a blank-check company, a person familiar with the situation said, tapping investor enthusiasm for the controversial listing vehicles.