SoftBank Group Corp’s mobile unit IPO to list on Tokyo Stock Exchange on Dec. 19

The IPO is likely to be Japan’s biggest to date with the majority of investors likely to come from within Japan.

As per a report from DealWatch, a capital markets newswire, SoftBank Group Corp is preparing for an IPO of its mobile unit, which it plans on listing on the Tokyo Stock Exchange on December 19.

According to the report which cites multiple anonymous sources, the approval from Tokyo exchange for the potential $17.57 billion (2 trillion yen) listing is likely to come on November 5 – the day SoftBank is scheduled to announce its second-quarter results.

Significantly, the listing could be the biggest Japan has ever seen. The listing will also mark the transformation of SoftBank and its near-$100 billion Vision Fund into one of the world’s largest technology investors; it will also free up cash for investments ranging from ride-sharing to solar energy.

SoftBank’s spokesman declined to comment.

The majority of investors in the mobile unit are likely to come from inside Japan, said DealWatch.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s