SoftBank working with Nomura on US$19b mobile IPO: sources

Tokyo

SOFTBANK Group Corp is working with Nomura Holdings Inc as it makes early preparations for an initial public offering of its domestic telecom business that could raise more than US$19 billion, said people with knowledge of the matter.

SoftBank is considering marketing most of the offering to Japanese individuals, said the people, who asked not to be identified because the information is private. While no official mandates have been assigned, Nomura is advising the company on matters such as its strategy for distributing the shares, corporate governance and documentation needed to list on the Tokyo Stock Exchange, the people said.