SoftBank plans to sell some or all of its 9% stake in SoFi

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato

Aug 8 (Reuters) - Japanese conglomerate SoftBank Group Corp (9984.T) plans to sell its stake in digital personal finance company SoFi Technologies Inc (SOFI.O), according to a filing late on Monday.

SoFi shares fell 3% in extended trading.

On Monday, SoftBank sold 6.7 million shares in SoFi at a weighted average price of $8.17 per share, three days after it sold 5.4 million shares at a price of $7.99.

SoftBank also posted a record $23.1 billion loss in the April-June quarter on Monday and said it plans to cut headcount at its flagship Vision Fund investing arm. read more

To raise cash, SoftBank has exited companies including Uber Technologies (UBER.N) and home-selling platform Opendoor Technologies (OPEN.O), for a total gain of $5.6 billion.

SoftBank's chief executive officer Masayoshi Son has suffered a series of high-profile reversals after big bets by the first Vision Fund in late-stage startups such as office sharing company WeWork Inc soured, prompting him to tighten investment controls with the second fund.

Reporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra Eluri

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