Hedge Funds Disputing Shinsei Buyout Price Cast Cloud on Listing

A cloud is hanging over one of Japan’s biggest listings of the year as investors including Citadel and Norges Bank claim in court filings that the price offered to take SBI Shinsei Bank Ltd. private in 2023 was too low.

Hedge funds Athos Capital Ltd. and Maven Investment Partners are also named in a private court petition from 2023 arguing that SBI Holdings Inc.’s buyout of Shinsei at ¥2,800 a share was undervalued, documents reviewed by Bloomberg News show.