Monday , March 8 2021

The Softbank Communications Department is launching an initial offer of USD 21 billion



The regulatory notice showed that the Softbank local loop has been approved to list its shares on the Tokyo Stock Exchange with an initial public offering of 2.4 trillion yen ($ 21.04 billion), one of the largest offers ever.
According to Reuters, the Finance Ministry's statement yesterday that Softbank Corp will be listed on the 19th of December.
The proposal to transform a parent company from a mobile telephone service provider – successfully challenging the status of dual monopoly in the Japanese mobile phone market – is one of the largest technology investors under the guidance of Masayoshi's son.
The offer provides the necessary funding that can be used for future investment in the technology sector.
Softbank Corp will sell 1.6 million shares at an initial price of ¥ 1,500 per share to increase 2.4 trillion yen, bringing the market capitalization of the company's shares to the list of € 7.18 trillion. The parent company will retain 66.5 per cent of the share unit.
If demand is strong, 160 million additional shares worth 240.6 billion yen may be sold. In this case, the overall process will approach the fact that 2014 Alibaba shares will sell $ 25 billion in value, and this is the largest initial offer ever.
The final bid price will be set for December 10th.


Source link