News

Retail Banking

Staff Reporter

, Japan

Published:

1 year ago

Photo by Jezael Melgoza via Unsplash.

SBI Holdings now own 53.74% stake in SBI Shinsei Bank: report

Shinsei is preparing to delist and return $2.43b in public funds.

Japanese online financial conglomerate SBI Holdings now owns 53.74% of SBI Shinsei Bank after a tender offer raised its stake by 3.7 points, reports Reuters.

The completion of the tender offer will help Shinsei return about $2.43b (JPY349b) in public funds as it prepares to delist.

ALSO READ: Japanese regulator sounds out megabanks on China geopolitical risks

The Japanese government had bailed out Shinsei two decades ago, and still owns a 22.98% stake.

Read more from Reuters:

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