Softbank to file for Japanese mobile IPO in July - report

News Wireless Japan 26 JUN 2018
Softbank to file for Japanese mobile IPO in July - report

SoftBank Group will apply to list its Japanese mobile subsidiary on the Tokyo Stock Exchange as early as next month, the Nikkei Asian Review reports. The company could start trading by year-end, according to the report. 

Softbank plans to list a partial stake in the wholly owned unit, Japan's third-largest mobile carrier by subscribers. The company is spinning off the telecom business in order to concentrate on its Vision Fund, and the proceeds from the listing will help fund the tech investments. 

The company hopes investors will be attracted by the stable profile of the mobile unit. The operator generated operating profit of about JPY 680 billion (USD 6.18 billion) for the fiscal year ended in March and annual free cash flow of around JPY 500 billion.

Categories:

Mobile

Companies:

Softbank

Countries:

Japan

Tags:

Shareholders & subsidiaries, Wireless, Corporate strategy, Financial funding

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