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Technology Stocks : Softbank Group Corp

SFTBY 73.68

-4.2%

11:03 AM EST

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To: Edwin S. Fujinaka who wrote (4928)	4/24/2000 8:22:00 AM
From: b_spiral	Read Replies (1) of 6018

I still do not get how this works? My stock now says a 3rd less at a 1/3 of the price on my etrade screen. Can I sell or buy tomorrow. Or only a 1/3 until June? I have no idea? Anybody know? The TSE really sucks.... Friday, April 14, 2000 Softbank Stock Sinks To Low Thur On News Of Share Split TOKYO (Nikkei)--Softbank Corp. (9984) stock on Thursday went limit-down to a year-to-date low of 66,300 yen due to concerns that the issue's temporary decrease in value from an upcoming 3-for-1 stock split will trigger margin calls for investors using the equity as collateral for margin trading. The Internet conglomerate on Wednesday announced that there will be a split for shareholders of record on April 25, resulting in the share price theoretically dropping to one-third its previous level and remaining at that level until June 23, when the new shares will be handed over to shareholders. Investors who have been using Softbank stock as collateral for margin trades will "have the same number of shares, but see the price level slump by two-thirds," says a Tokyo Stock Exchange official. As a result, those investors may face a temporary shortfall in collateral. The split is being executed to boost tradings in Softbank stock through lower share prices. But with the issue undergoing a correction, "investors were worried about selling to convert Softbank shares being used as collateral into cash, in order to avoid margin calls," says a Daiwa Securities Co. official. (The Nihon Keizai Shimbun Friday morning edition

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