"SoftBank Group Corp. has agreed to sell a large portion of its stake in InMobi Pte back to the mobile advertising company for about $250 million, unwinding much of an investment that created India's first unicorn in 2011."
"InMobi will repurchase the shares to reduce SoftBank's holding to less than 10% from more than 30%, people familiar with the matter said, asking not to be identified discussing private information. The transaction is part of a broader cap-table reshuffle as InMobi prepares for a potential public listing."
SoftBank Group Corp. agreed to sell a substantial portion of its stake in InMobi Pte back to the mobile advertising company for about $250 million. The sale unwinds much of the original investment that helped create India's first unicorn in 2011. InMobi will repurchase the shares to reduce SoftBank's holding from more than 30% to less than 10%. Sources familiar with the matter requested anonymity when discussing private information. The share repurchase forms part of a broader cap-table reshuffle as InMobi prepares for a potential public listing.
Read at Bloomberg.com
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