Japan’s SBI Holdings Inc plans to take SBI Shinsei Bank private by spending about 150 billion yen ($1.11 billion) to buy around a 25% stake through a tender offer, the Nikkei business daily reported on Friday.
SBI Holdings declined to comment. SBI Shinsei Bank was not immediately available for comment.
Shares in SBI Shinsei Bank touched an intraday high just after the report, rising nearly 4% before the Tokyo bourse suspended trade.
Reuters