SoftBank’s China strategy wobbles as key bets disappoint [Reuters]
OneConnect Financial Technology Co., Ltd. American Depositary Shares, each representing thirty ordinary shares (OCFT)
Company Research
Source: Reuters
SoftBank’s China strategy wobbles as key bets disappoint HONG KONG/BEIJING (Reuters) - For SoftBank Group Inc, financial technology firm OneConnect’s IPO should have been a vindication of an aggressive China investing strategy. Instead, embarrassed bankers had to slash the offering size and cut its price as investors baulked at a business model seen too reliant on majority owner Ping An Insurance. The IPO valued OneConnect at $3.7 billion, about half its worth last year when SoftBank’s Vision Fund invested $100 million, and its stock was down slightly in its debut on Friday. OneConnect Financial Technology is just one of many China bets placed by the Japanese investment giant or its massive Vision fund which have run into trouble. That’s added to global woes for SoftBank CEO Masayoshi Son, under fire for bad judgement and insufficient due diligence, exemplified by U.S. office-space startup WeWork’s disastrous IPO attempt and subsequent bailout. In ZhongAn Online P&C Insurance Co Ltd’s
Show less
Read more
Impact Snapshot
Event Time:
OCFT
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
OCFT alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
OCFT alerts
High impacting OneConnect Financial Technology Co., Ltd. American Depositary Shares, each representing thirty ordinary shares news events
Weekly update
A roundup of the hottest topics
OCFT
Sec Filings
- 11/5/24 - Form 6-K
- 11/5/24 - Form SC
- 11/4/24 - Form 6-K
- OCFT's page on the SEC website