Softbank Shares Soar to Two-Decade Highs, Buoyed by Vision Fund Profits By

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By Gina Lee – Japanese conglomerate Softbank (OTC:) Group Corp. (T:) shares on Tuesday, as investors digested the record profits reported by its Vision Fund unit the day before.

Softbank shares rose 3.27% to JPY9,795 ($92.91) by 11:59 PM (3:59 AM GMT). They had surged to JPY10,000 apiece earlier in the session.

The company also said on Monday that the value of its portfolio has bounced back after startups like Opendoor went public. Other major portfolio companies preparing to take advantage of record-level equity raising and list on the market are ride-hailing firms Didi and Grab.

Softbank is “effectively owner of the most lucrative portfolio amidst an ongoing retail IPO frenzy,” Jefferies (NYSE:) analyst Atul Goyal said in a note.

Frothy markets saw the value of SoftBank’s assets, or “golden eggs” as they were referred to by Chief Executive Officer Masayoshi Son, climb by $21 billion to $221 billion in the six months to end-December.

“The explosion in market liquidity over the last nine to ten months has played a huge role and we believe SoftBank success correlates closely with how U.S. tech trades going forward,” Redex Research analyst Kirk Boodry said in a note.

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