SoftBank-Backed InMobi Seeks $350 Million Loan for Share Buyback
SoftBank-backed InMobi, a mobile advertising platform, is seeking a $350 million private loan for a share buyback ahead of its planned initial public offering (IPO) in India. The company, which operates in over 200 countries, is looking to raise the loan from a consortium of investors to finance the buyback of shares from existing investors. The move is aimed at streamlining InMobi's shareholding structure and increasing the company's valuation ahead of the IPO. SoftBank, which holds a significant stake in InMobi, is expected to participate in the share buyback. The loan will also help InMobi strengthen its financial position and better position itself for the upcoming IPO in the Indian market.
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