SoftBank hopes to raise ¥2.4-trillion in domestic telecoms IPO
SoftBank’s brand name and its CEO’s reputation as a tech visionary is expected to secure the IPO’s success despite recent uncertainty in the Japanese telecoms industry
Tokyo — SoftBank has won approval to conduct a ¥2.4-trillion initial public offering (IPO) of its domestic telecoms business, in a deal that will seal the group’s transformation into a top global technology investor. The IPO will be one of the biggest ever worldwide, and will provide the group with funds to pay down debt and continue placing big bets on innovations that CEO Masayoshi Son predicts will drive future tech trends. SoftBank’s bets so far have been as varied as small gaming startups, ride-hailing firms such as Uber Technologies, and e-commerce behemoth Alibaba. SoftBank aims to raise ¥2.4-trillion through the sale of 1.6-billion SoftBank shares at a tentative price of ¥1,500 each, showed a filing with the finance ministry on Monday. The amount could rise by ¥240.6bn if demand triggers an over-allotment, taking the total closer to the $25bn that Alibaba raised in 2014 in the biggest-ever IPO. The final IPO price will be determined on December 10, and SoftBank will list on ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.