SoftBank Group plans to raise a record JPY 2 trillion (approximately USD 18 billion) from Japanese individuals in the initial public offering of its mobile phone unit. SoftBank mainly targets investors who often get no interest on their savings, Bloomberg reports, citing unnamed sources. Nomura will sell the biggest part of the shares to the retail investors, part of an IPO that could raise about JPY 3 trillion in total, the sources added. SoftBank intends to release details for the debut sale next week, the same sources said.
According to the same sources, the size of the IPO may change or the listing could be delayed if there are disruptions in the market. Representatives at SoftBank and Nomura declined to comment on the details for the IPO.
