Deals
Coleman's Tiger Global Is Taking $1 Billion SoftBank Stake
- Tiger puts SoftBank’s net asset value at $190 billion
- ‘The stock is meaningfully undervalued,’ Tiger analysis says
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Chase Coleman’s Tiger Global Management has invested more than $1 billion in SoftBank Group Corp., according to a client letter seen by Bloomberg.
SoftBank’s shares rose 5.5 percent, the most in three months on an intraday basis, on Thursday after Tiger Global told investors that the Japanese conglomerate is trading at too steep a discount to its net asset value. Its share price fails to reflect the appreciation of assets, including Alibaba Group Holding Ltd., the asset manager said.