Kahoot! shares leap as SoftBank sells stake to General Atlantic

Kahoot ASA

16/09/2022 08:10

** Shares of Kahoot!  KAHOT.OL  jump 28%, topping Oslo
blue-chips index  .OBX , after SoftBank  9984.T  agrees to sell
its 15% stake in the Norwegian game-based learning platform to
U.S. private equity group General Atlantic  urn:newsml:reuters.com:*:nL8N30N10Y
 urn:newsml:reuters.com:*:nFWN30M1QU
    ** The two-tranche transaction is expected to be completed
in Q4, subject to regulatory approval
    ** General Atlantic confirmed the deal to buy 73.5 mln
Kahoot! shares, but did not disclose the transaction price
    ** The Kahoot! shares are on track for their best day ever,
as Friday's gains add NOK 2.3 bln ($225 mln) in the company's
market cap
    ** The stock had fallen 63% YTD as of Thursday's close

($1 = 10.2176 Norwegian crowns)

 (Reporting by Jacob Rasmussen)
 ((jacob.rasmussen@thomsonreuters.com))