Soul Ventures Holdings Limited Cuts Stake in abc (8783) to 0% | Large Shareholding Report

A large shareholding report (EDINET filing) reveals that Soul Ventures Holdings Limited has reduced its stake in abc (8783) to 0%. This represents a complete exit by a UK-based venture capital firm. abc operates across multiple sectors including mobile game development and operation, Web3, finance, and cybersecurity, with an ongoing business transformation centered on blockchain technology. The estimated sale proceeds, calculated at the stock price of ¥57 as of August 5, 2026, amount to ¥450 million.

Complete Position Exit Within Five Months of Initial Holdings

Soul Ventures Holdings first reported its stake in abc on March 18, 2026, holding 17.35% at that time. The entire position was liquidated over the following five months, resulting in today's zero holding. Two large shareholding reports mark the beginning and end of this investment cycle, demonstrating a relatively short-term engagement with the company.

Stock Structure Dominated by Foreign Institutional Investors

According to available shareholding reports, Long Corridor Asset Management Limited holds the largest stake at 37.93%, followed by Seacastle Singapore Pte. Ltd. at 28.21% and WOWOO PTE. LTD. at 24.43%. When Soul Ventures held 17.35%, it occupied a position below these three major shareholders. The exit increases concentration among the top-tier foreign investors. Domestic holders are limited to Jingxiang Knitting Limited (6.95%) and Tricolor 2 LLC (0.59%).

Exit at PER 0.7x and 52-Week Lows

At the filing date, abc's valuation metrics showed a PER of 0.7x and PBR of 0.39x. The PER reflects a compressed earnings multiple, indicating the stock trades at a low multiple of recent profits. The PBR of 0.39x signals the stock trades at less than 40% of book value per share, suggesting significant divergence from net asset valuation. The 52-week range position of 0% indicates the stock was at its lowest point over the past year when the exit occurred.

*Speculation: This divestment likely represents the completion of a typical venture capital investment cycle, suggesting that abc's blockchain-focused business transformation may have aligned with Soul Ventures' investment thesis at entry and prompted systematic exit at this juncture.