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SoftBank CEO hosts ‘pre-IPO summit’ in New York as he courts investors – Source Reuters Tech News

NEW YORK (Reuters) – SoftBank Group Corp Chief Executive Masayoshi Son held his first “pre-IPO summit” for the Japanese conglomerate’s portfolio companies on Tuesday, introducing them to Wall Street investors who could be backing their stock market debuts.

FILE PHOTO: Japan’s SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo, Japan, November 5, 2018. REUTERS/Kim Kyung-Hoon/File Photo

The event, which was closed to the media and described by a source in attendance, illustrates how SoftBank is keen to prepare the ground for the initial public offerings of many of its holdings, after some of its portfolio companies performed poorly last year following their listings.

The gathering hosted institutional investors and was chaired by Son and BlackRock Inc CEO Larry Fink. It included nine SoftBank-backed companies, including data storage company Cohesity, British financial technology firm OakNorth and financing group Greensill Capital, the source…

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Source Reuters Tech News

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