You are here

Japan's SoftBank Group soars on listing reports

BP_SoftBank_150118_32.jpg
Shares in Japan's SoftBank Group soared nearly six per cent on Monday on reports it could list its mobile unit, potentially raising some US$18 billion in one of the country's biggest public offering.

[Tokyo] Shares in Japan's SoftBank Group soared nearly six per cent on Monday on reports it could list its mobile unit, potentially raising some US$18 billion in one of the country's biggest public offering.

In a statement, SoftBank group insisted no decision had been made, but acknowledged the listing was an "option." "We are always studying various capital strategy options," the company said.

"The listing of SoftBank Corp. shares is one such option, but no decision has been made to officially proceed with this course." The Nikkei economic daily said the listing could bring in two trillion yen, one of the largest initial public offerings ever for a Japanese company.

It said the company hopes to apply to the Tokyo Stock Exchange in spring and begin trading on the bourse around autumn, offering around 30 percent of the shares in its subsidiary up to investors.

sentifi.com

Market voices on:

It is hoping for an overseas debut at the same time, possibly in London, the Nikkei added.

SoftBank Group has been aggressively investing in technology ventures under its flamboyant leader, Masayoshi Son.

The listing could rival the record 2.2 trillion yen that formerly state-run Nippon Telegraph and Telephone raised in 1987.

AFP

Powered by GET.comGetCom