ZCZC
BCN-05
STOCKS-JAPAN-IPO-TELECOMMUNICATION
Japan’s SoftBank Group soars on listing reports
TOKYO, Jan 15, 2018 (BSS/AFP) – Shares in Japan’s SoftBank Group soared
nearly six percent Monday on reports it could list its mobile unit,
potentially raising some $18 billion in one of the country’s biggest public
offering.
In a statement, SoftBank group insisted no decision had been made, but
acknowledged the listing was an “option.”
“We are always studying various capital strategy options,” the company
said.
“The listing of SoftBank Corp. shares is one such option, but no decision
has been made to officially proceed with this course.”
The Nikkei economic daily said the listing could bring in two trillion yen
($18 billion), one of the largest initial public offerings ever for a
Japanese company.
It said the company hopes to apply to the Tokyo Stock Exchange in spring
and begin trading on the bourse around autumn, offering around 30 percent of
the shares in its subsidiary up to investors.
It is hoping for an overseas debut at the same time, possibly in London,
the Nikkei added.
SoftBank Group has been aggressively investing in technology ventures under
its flamboyant leader, Masayoshi Son.
The listing could rival the record 2.2 trillion yen that formerly state-run
Nippon Telegraph and Telephone raised in 1987.
BSS/AFP/MR/ 1210 hrs