SoftBank Sells 11.4 Million Shares Of DoorDash – Source

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SoftBank Group Corp (9984.T) sold 11.4 million shares of food delivery company DoorDash Inc (DASH.N), marketed via Goldman Sachs Group Inc (GS.N), a source familiar with the matter said on Thursday.

They were priced at around $182.95 each, a Bloomberg report said, valuing the sale at around $2.2 billion. Shares of DoorDash were last down around 5.3%.

The share sale comes a week after DoorDash, in its quarterly earnings report, predicted a seasonal decline in order rates and new customer addition in the current quarter.

The company had reported a bigger loss in the second quarter than expected as it spent heavily to expand internationally and into a crowded market for grocery during the pandemic.

– Reuters

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