SoftBank, a Tokyo-based investment giant, has recently agreed to buy 20% share of the country’s leading mobile financial service (MFS) provider bKash. bKash has partnered with SoftBank in order to enhance Bangladesh’s financial inclusion, says BRAC Bank.
The directors of BRAC Bank has approved the share purchase and the subscription agreement. Softbank would make both primary and secondary investments in bKash, BRAC Bank disclosed. They will acquire the shares (on a fully diluted basis) through SVF II BEAM (DE) LLC. However, BRAC Bank will still remain the majority shareholder after the completion of the acquisition, according to a statement by BRAC Bank.
Additionally, the new investment will not change the bank’s ownership of bKash. This implies that the investor will get some new shares and will acquire the rest from one or more of the current stakeholders.
Over the last decade, bKash has had many shareholders, including the International Finance Corporation of the World Bank in 2013, the Bill & Melinda Gates Foundation in 2014, and the Ant Group in 2018.
Leave a Comment