Palihapitiya, who had also helped take Virgin Galactic public last year, is planning to raise a total of $2 billion through initial public offerings for three new blank-check firms.
In September, Opendoor Labs Inc, the home-selling platform backed by SoftBank Group, agreed to go public through a merger with another blank-check company backed by Palihapitiya in a deal worth $4.8 billion.
Social Capital Hedosophia Holdings is a partnership between the investment firms of Social Capital and Hedosophia, and was listed earlier this year.
A blank-check company, also known as a special purpose acquisition company, uses capital raised through an initial public offering to buy a private company, usually within two years. The deal then takes the private company public.
Social Capital's shares rose more than 5% in premarket trade.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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