Sumitomo Mitsui Financial Buys 10% Stake in SBI Holdings
Posted on 06/24/2022
Sumitomo Mitsui Financial Group (Tokyo: 8316) agreed to acquire an estimated 10% stake in Japanese online broker SBI Holdings (T: 8473). The deal is worth an estimated ¥79.6 billion (US$ 585 million). In a statement, SBI Holdings said it will issue new shares via a third-party allotment to Sumitomo Mitsui Financial Group, the parent of…
