SoftBank Group Corp is seeking to raise 2.4 trillion yen ($21.1 billion) from floating its mobile unit on the Tokyo Stock Exchange in an initial public offering (IPO) on Dec. 19.
The Japanese technology giant will sell 1.6 billion shares of the telecom unit at 1,500 yen each, Bloomberg reported on Monday, citing the company’s prospectus.
The IPO price range will be set on Nov. 30, followed by the final price on Dec. 10.
The new company will have a dividend payout ratio of 85 percent, according to the prospectus.
SoftBank has 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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