SoftBank Group will apply to list a blank-check company in the U.S. as early as Monday, Nikkei has learned.

Blank check companies, or special-purpose acquisition companies, are essentially publicly traded investment vehicles that have no operations of their own and whose sole purpose is to acquire or merge with an unlisted company.

The Japanese conglomerate is expected to raise tens of billions of yen. It is currently unclear which company SBG is looking to purchase but it appears to not be any of the group's existing investments.

SoftBank Investment Advisers, the management arm of SBG for the $100 billion Vision Fund, will oversee the operations of the SPAC.

An increasing number of private companies are seeking to be acquired by a SPAC, which would reduce the time and procedures required for listing on the market. A SPAC is called a "blank-check company" because the companies it intends to buy at the time of listing are not specified.

SBG intends to draw out more favorable conditions, like investment ratio, during negotiations by offering the investee company a shortcut to listing. The purpose of utilizing a SPAC is also to expand the means of investment as an investment company.

Contact editor Marcus Ryder (marcusryder@caixin.com)

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