SoftBank Group's LY Corp. to Bump Up Stake in LINE Bank Taiwan

MT Newswires Live04-11

SoftBank Group (TYO:9984) subsidiary LY Corp. will invest NT$2.745 billion to increase its stake in LINE Bank Taiwan to 51.15% from 49.9%, according to its Thursday bourse filing.

The capital injection will be made through LINE Bank Taiwan units, LINE Financial Corporation and LINE Financial Taiwan.

The transaction is expected to strengthen LINE Bank's digital banking services in Taiwan and deepen its integration within the LY Corp. ecosystem, the filing said.

The additional investment is set to be made in June.

Price (JPY): $6711.00, Change: $-59, Percent Change: -0.87%

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