SoftBank Turns a Profit on First Sales of Latin America Stakes

SoftBank Group Corp. is selling some of its investments in Latin America for the first time, turning a profit on the holdings even though startups in the region have been shut out of the market for initial public offerings.

The Japanese company is among the sellers of Pismo, a Brazilian financial-technology firm that Visa Inc. agreed to acquire for $1 billion in a deal announced in June. With the transaction, expected to be completed by the end of the year, SoftBank more than doubled its initial investment in Pismo in 18 months, according to Alex Szapiro, a managing ...