Softbank raises JPY 2.6 trillion in IPO of Japanese telecom business

News General Japan 10 DEC 2018
Softbank raises JPY 2.6 trillion in IPO of Japanese telecom business

Softbank Group has confirmed the sale of 1.7 billion shares in the initial public offering for its Japanese telecom business. At a price of JPY 1,500 per share, the IPO raised JPY 2.646 trillion (USD 23.4 billion) in gross proceeds for the company. 

The company confirmed the earlier indicated price of JPY 1,500 per share and said it will also exercise the over-allotment option. This means the sale of 1.43 billion shares to domestic investors in Japan, 176.4 million to international investors and the greenshoe of 160.4 million more shares. 

Following the sale, Softbank will still hold just over 3 billion shares in the company, or 63.14 percent of the total. Excluding the greenshoe option, the company expects to record a net gain of JPY 2.35 billion in its results for the December quarter from the IPO. 

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General

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Softbank

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Japan

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Shareholders & subsidiaries, Financial funding

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