SoftBank to invest $1 billion for a 6% stake in payments firm Wirecard

SoftBank to invest $1 billion for a 6% stake in payments firm Wirecard

5 years ago
Anonymous $9jpehmcKty

https://www.cnbc.com/2019/04/24/softbank-to-invest-1-billion-for-a-6percent-stake-in-payments-firm-wirecard.html

SoftBank will invest 900 million euros ($1 billion) into German fintech firm Wirecard, as part of a strategic partnership on digital payments.

Wirecard said Wednesday that it will raise the capital by issuing convertible bonds with a maturity of five years, and sell them to SoftBank. The notes will convert to an almost 6% stake in the firm. The deal is still subject to the approval of Wirecard shareholders.