SoftBank to raise $23 bln from mobile unit IPO: report

10/12/2018 Argaam

 

SoftBank Group Corp is planning to raise $23.5 billion from floating its mobile unit on Tokyo Stock Exchange in an initial public offering (IPO), making it the second biggest stock market listing ever, Reuters reported on Monday.

 

The Japan-based group’s shares were priced at $13 each - unchanged from the indicative price, the report said.

 

Softbank also noted that it will sell all extra shares set aside for excess demand, taking the total just lower than the record $25 billion raised in 2014 by Chinese e-commerce giant, Alibaba Group Holding Ltd, a SoftBank Group portfolio company.

 

The share will debut on the Tokyo Stock Exchange’s first section on Dec. 19, Argaam earlier reported.

 

SoftBank hired Nomura Holdings Inc., Goldman Sachs Group Inc., Deutsche Bank AG, Mizuho Financial Group Inc., JPMorgan Chase & Co. and Sumitomo Mitsui Financial Group Inc. among joint global coordinators to advise on the offering. 

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