SoftBank to invest over 1 bln USD in German payment company Wirecard

BERLIN, April 24 (Xinhua) — The Japanese SoftBank Group will invest approximately 900 million euros (1.09 billion U.S. dollars) in convertible bonds issued by Wirecard, the Munich-based global payment service provider announced on Wednesday. After five years, the bonds to be acquired by SoftBank will convert into a 5.6 percent stake in Wirecard at a price of 130 euros per share, the German payments provider said. The announcement of SoftBank’s investment was received positively on the German stock exchange as shares in Wirecard jumped almost 9 percent to 134 euros in early trading on Wednesday.

Source: world-news-monitor.com