SoftBank Group Corp mulls IPO for domestic wireless business; could raise USD18bn

15 Jan 2018

Japan’s SoftBank Group Corp is considering listing its domestic wireless business to raise as much as USD18 billion from an IPO that it hopes will ‘accelerate the conglomerate’s transformation into one of the world’s biggest tech investors,’ the Nikkei newspaper reports. If completed, the spin-off will not only be the largest seen in Japan for 20 years but it will also give the mobile arm more autonomy over its future direction. Shares in the Group climbed 4% on the news. SoftBank Group Corp has considerable assets both at home and abroad: it has stakes in US wireless operator Sprint Corp, UK-based chip designer ARM Holdings and Chinese multinational e-commerce firm Alibaba Group Holding Ltd. It is understood that the Japanese group, which with others has set up the USD93 billion Vision Fund to invest in future tech ventures, plans to sell around 30% of SoftBank Corp, raising around JPY2 trillion (USD18 billion) that would go towards ‘investments in growth, such as buying into foreign information-technology companies’, the Nikkei said without citing sources. SoftBank will seek approval from the Tokyo Stock Exchange as early as spring and aims to debut in Tokyo as well as overseas, possibly London, around autumn, the Japanese business daily said.

Japan, SoftBank Corp, SoftBank Group Corp