SoftBank and Renren-backed online financial services provider SoFi will list on the New York Stock Exchange at an $8.65bn valuation double that of its last round.
Social Finance (SoFi), the US-based online financial services provider backed by internet and telecommunications group SoftBank and social media company Renren, agreed a reverse merger yesterday.
The company is merging with Social Capital Hedosophia (SCH) Holdings Corp V, a special purpose acquisition company formed by Social Capital and Hedosophia that floated on the New York Stock Exchange in a $700m initial public offering in October 2020.
The deal will form a company set to be valued at $8.65bn and will…
