SoftBank revealed that it sold its Uber holdings sometime between April and July, at an average price of $41.47 per share. According to SoftBank, the average cost per share was $34.50, meaning the bank sold the Uber stake at a profit.
SoftBank’s move comes as its technology investment vehicle, Vision Fund, reported a 2.93 trillion Japanese yen loss for the June quarter.
SoftBank invested in Uber in 2018 and then again the following year, becoming the ride-hailing giant’s largest shareholder at one point. However, in 2021, the bank sold around a third of its stake in Uber and the remaining this year.