SoftBank Group Corp secures JPY2tn retail sales target for telecom IPO

29 Nov 2018

Bloomberg claims that SoftBank Group Corp’s JPY2.4 trillion (USD21 billion) initial public offering (IPO) of its Japanese telecommunications unit has successfully secured sales for the bulk of its shares to individual investors. People familiar with the matter say that the lead underwriters for the sale, which had set a target of about JPY2 trillion worth of retail sales, ‘have received enough reservations at around the indicated price of JPY1,500’, although they asked not to be identified because the information is not public. Bloomberg notes that SoftBank will announce the price range for the offering on Friday, following a campaign to generate public interest in the IPO of the wireless unit, which will be a new entity named SoftBank Corp.

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