SoftBank raises $22 billion by selling Alibaba derivatives: Report

SoftBank Group shares rose 2.6% in Tokyo trading, while the benchmark Topix was flat

SoftBank Group Corp. has raised as much as $22 billion in cash through the sale of prepaid forward contracts using Alibaba Group Holding Ltd. shares, the Financial Times reported, citing filings it has seen.

SoftBank has this year executed the sale of about a third of its Alibaba stake through these contracts, a type of derivatives that allows the Japanese company to raise cash immediately while retaining the possibility of holding on to the shares, the report said. 

It has sold more than half its Alibaba stake through this type of derivatives, the report said. SoftBank could shrink its stake