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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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SoftBank : WeWork discloses $3.2 bln loss in 2020 as it seeks SPAC deal - source

03/22/2021 | 04:25pm EDT

March 22 (Reuters) - WeWork lost $3.2 billion last year, the office-sharing startup disclosed in a presentation shown to prospective investors as part of a pitch for $1 billion in investment and a stock market listing, a person familiar with the matter told Reuters.

The company's losses narrowed from $3.5 billion in 2019 and it plans to go public at a valuation of $9 billion including debt through a merger with a special purpose acquisition company (SPAC), according to a person directly briefed on the presentation that was sent out to existing and potential new investors.

A SPAC is a shell company that raises funds in an IPO with the aim of acquiring a private company, which then becomes public as result of the merger.

Reuters reported in January that WeWork was in talks to go public through a merger with a SPAC and was exploring raising funds from private investors.

The company's plans for a high-profile initial public offering imploded in October 2019 due to widespread criticism over its business model and its founder Adam Neumann's management style. SoftBank Group Corp later bailed out the startup.

WeWork is now in talks with BowX Acquisition Corp, a blank-check company that raised $420 million in August, according to the Financial Times, which first reported the news.

WeWork declined to comment on the report.

The report said that WeWork forecast occupancy to rebound to 90% by the end of 2022, from 47% at the end of last year when the COVID-19 pandemic shut its co-working spaces around the world.

The company expects adjusted earnings before interest, taxes, depreciation and amortization of $485 million next year, the report added.

(Reporting by Uday Sampath and Anirban Sen in Bengaluru, additional reporting by Aakriti Bhalla in Bengaluru; Editing by Aditya Soni and Sherry Jacob-Phillips)


ę Reuters 2021
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Analyst Recommendations on SOFTBANK GROUP CORP.
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Financials
Sales 2022 6 040 B 55 286 M 55 286 M
Net income 2022 1 310 B 11 989 M 11 989 M
Net Debt 2022 14 983 B 137 B 137 B
P/E ratio 2022 8,69x
Yield 2022 0,70%
Capitalization 10 842 B 99 238 M 99 239 M
EV / Sales 2022 4,28x
EV / Sales 2023 4,05x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 15
Last Close Price 6 329,00 JPY
Average target price 10 507,87 JPY
Spread / Average Target 66,0%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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