SoftBank’s China strategy wobbles as key bets disappoint

HONG KONG/BEIJING (Reuters) - For SoftBank Group Inc , financial technology firm OneConnect's IPO should have been a vindication of an aggressive China investing strategy.Instead, embarrassed bankers had to slash the offering size and cut its price as investors baulked at a business model seen too reliant on majority owner Ping An Insurance . The IPO valued OneConnect at $3.7 billion, about half its worth last year when SoftBank's Vision Fund invested $100 million, and its stock was down..