SoftBank IPO will be Japan's largest, just shy of Alibaba's record
- Asian Market
- 1 month ago
SoftBank Corp has priced its IPO at 1,500 yen per share making a further 160 million shares available in order to meet the growing demand, hence raising 2.65 trillion yen ($23.5 billion) making it Japan's largest Initial Public Offering and will be just short of the world record currently held by Alibaba Group Holding Ltd back in 2014.
SoftBank has however come under some adversity as of late, the IPO launch comes days after the network provider had to deal with an unforeseen disruption to its services which nevertheless will not affect dividends or earnings forecast as announced on 12 November, also with thta the Japanese government plans to decrease mobile phone charges as it seeks to open up market competition as next year will see the arrival of Rakuten Inc. whos 5% dividend yield is one of the highest in Japan.
Trading of softBankshares will begin next week Wedneday, December 19.
Source: Smart Trend Team