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SoftBank eyes IPO for blank-check acquisition vehicle in 2020

Group taps unicorn demands for a shortcut to equities market

SoftBank Group's logo at its headquarters in Tokyo: the group headed by Japanese billionaire Masayoshi Son plans to add a new vehicle to its investment arsenal.   © Reuters

TOKYO -- SoftBank Group plans to list a blank-check company in the U.S. as early as this year, in a plan that has already begun stoking concerns about giving unvetted startups access to the equities market.

A special-purpose acquisition company, or SPAC, is essentially a business that has no operations of its own and whose sole purpose is to acquire or merge with an unlisted company.

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