SoftBank's IPO to top USD23.5bn amid high demand for shares

12 Dec 2018

SoftBank Group Corp is on course to raise JPY2.65 trillion (USD23.5 billion) in what looks set to be Japan’s biggest IPO to date, Reuters reports, as it develops its business from domestic telecoms carrier to global tech investor. Having priced its shares at JPY1,500 each this week, in line with previous indications, SoftBank has also confirmed it expects to sell all extra shares set aside for excess demand, boosting the total yield close to the record USD25 billion raised in 2014 by Chinese e-commerce giant Alibaba Group Holding – a company that is part of the SoftBank Group stable. The report notes that Masayoshi Son’s Japan-based group, which controls the USD100 billion private equity Vision Fund, will look to use the proceeds from the IPO to continue to invest in tech start-ups which, to date, include niche games makers to ride-hailing giant Uber. The Japanese firm’s stock will debut on the Tokyo Stock Exchange’s first section on 19 December 2018.

Japan, SoftBank Group Corp