Sun Zhengyi Sold Ali Stock To $10 Billion.

Beijing time on June 4th, according to foreign media reports, after the exercise of an additional Trust Securities purchase rights, Softbank through the sale of Alibaba

The cash has been raised to $10 billion.

Softbank said in May 31st that it planned to sell about 7 billion 900 million dollars.

For this reason, Softbank will set up a convertible trust fund and issue convertible bonds totaling $5 billion, which can be converted into Ali common stock in three years.

According to the supplementary announcement in June 2nd, Softbank expanded the convertible debt to $5 billion 500 million, while selling an additional $500 million of Ali stock to Temasek, Singapore.

So far, Softbank has reached $8 billion 900 million in cash.

However, Softbank announced in June 3rd that it has fully exercised the power to purchase an additional 20% Trust Securities (valued at US $1 billion 100 million).

This part of the trust securities can be converted into Alibaba stocks, which makes the scale of convertible bonds raised to $6 billion 600 million, and the amount of cash in the sale of Ali shares of Softbank also reaches $10 billion.

It is reported that Softbank first sold the latter's shares since investing in Alibaba in 2000.

Softbank hopes to use the money to invest in promising start-ups while enhancing its balance sheet.

Currently, Softbank carries a total debt of 11 trillion and 900 billion yen (US $109 billion).

Softbank has spent heavily on the acquisition of Sprint, a US telecoms operator, but its performance has been poor and it has been losing money for years.

Hideki Yasuda, an analyst at Ace Research Institute research firm in Tokyo, said: "since the acquisition of Sprint, Softbank's balance sheet has continued to deteriorate.

Before the successful pformation of Sprint,

It has been unable to carry out large-scale mergers and acquisitions.

It is reported that Alibaba will buy $74 worth of shares from Softbank at a price of US $2 billion per share.

At the same time, Softbank will sell 500 million dollars of Ali stock to two Singapore state investment companies at the same price.