SBI Shinsei Aims for July Repayment and Relisting on Tokyo Market

SBI Shinsei Bank aims to relist on the Tokyo market by the end of July after repaying bailout funds to the Deposit Insurance Corporation of Japan. The estimated bailout amount is around 230 billion yen ($1.5 billion), which SBI Holdings, led by CEO Yoshitaka Kitao, plans to buy back from the government-affiliated body.

ARK Invest, led by Cathy Wood, has sold shares worth $51.8 million across three of its investment funds, including Ark Innovation ETF (ARKK), Ark Next Internet ETF (ARKW), and Ark Fintech Innovation ETF (ARKF). This move comes after the company bought $373 million worth of Circle (CRCL) shares on the first day of trading on the New York Stock Exchange (NYSE) [1].

Circle, a prominent stablecoin exporter, went public on the NYSE in May and received regulatory approval on June 5. The company's stock has since rallied, with ARK Invest seeking to capitalize on the market sentiment. The sale of $51.8 million in CRCL shares is the first divestment of ARK's CRCL holdings, with ARKK holding the largest position at $387.7 million, representing about 6.6% of its total assets [1].

In addition to ARK Invest, other institutions have also invested in CRCL. SBI Holdings, a Japanese financial services company, announced a strategic investment of $50 million in CRCL shares on June 9. This investment represents 5% of the 34 million shares offered during the public subscription and is part of SBI's ongoing partnership with Circle to expand its presence in Japan [1].

SBI Shinsei Bank, a subsidiary of SBI Holdings, aims to relist on the Tokyo market by the end of July. The bank plans to repay the estimated bailout amount of 230 billion yen ($1.5 billion) to the Deposit Insurance Corporation of Japan. CEO Yoshitaka Kitao has stated that the bank intends to buy back the funds from the government-affiliated body [2].

References:
[1] https://investorempires.com/ark-invest-sells-off-circle-stock-after-massive-post-ipo-rally/
[2] https://www.sbis.jp/en/