Nikesh Arora to buy $483 million stake in his own headed company SoftBank

SoftBank Group president Nikesh Arora has declared that he has his eyes on buying the company’s shares worth about 60 billion yen ($483 million) in the next 6 months. Becoming the second biggest individual investor after the company’s founder, chairman and CEO Masayoshi Son.

Showing “commitment” and precise trustworthiness in the facts and figures of the company he said, “I have decided to take a personal bet on the SoftBank group and ensure the alignment of vision with our founder chairman and CEO Masayoshi Son.” Asserted Arora in a press release from the SoftBank.

Precisely, Arora plans to acquire the shares in the open market and at the terminating price of 7,477 yen on Wednesday in Tokyo.

8 million shares for a 0.69 percent stake in SoftBank with result his cash.

In the press release covered by TOI, Son, who was very frankly affirmative, admitted that he expects Arora to succeed him at the appropriate time and thus going on to clinch the spot of the biggest individual investor.

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About Sanika Govekar

An avid reader with a love for English, an achiever; she has a burning desire to succeed. She wants to make a difference to the society and strongly believes that self-discipline and a monumental work ethic can beat natural ability. Aim to Major in Economics.