SoftBank, the Japanese investment giant, will acquire a 20% stake in bKash, Bangladesh’s largest mobile financial services company, per a price sensitive information disclosed by BRAC Bank, the majority shareholder of bKash Limited on Wednesday. The firm didn’t share the financial details of the deal.
BRAC Bank Ltd, in its board meeting, has already approved the relevant share purchase and subscription agreement among bKash, its existing shareholders, and the proposed investor SVF II BEAM (DE) LLC. bKash’s existing investors include BRAC Bank, Money in Motion, Alipay, the International Finance Corporation, the Bill and Melinda Gates Foundation, and the bKash Employee Share Option Plan Trust.
The deal, the first such investment by Softbank in a Bangladeshi company, will have to go through relevant regulatory formalities.