SoftBank wants to raise $21 billion in one of the world's biggest IPOs

SoftBank is getting ready for a blockbuster IPO.The Japanese company ...

Posted: Nov 12, 2018 1:58 PM
Updated: Nov 12, 2018 1:58 PM

SoftBank is getting ready for a blockbuster IPO.

The Japanese company said Monday it plans to sell 2.4 trillion yen ($21 billion) worth of stock in its mobile telecoms unit. That would make it the world's biggest IPO since Alibaba (BABA) went public in New York in 2014.

Banking, finance and investments

Business, economy and trade

Companies

Financial markets and investing

Financing and stock offering

Initial public offering

SoftBank Group Corp

Business figures

Masayoshi Son

Asia

Continents and regions

East Asia

Japan

Alibaba Group

Technology

The IPO is a key part of CEO Masa Son's efforts to reposition SoftBank (SFTBY) as a global tech investor. It will effectively split the company in two, allowing investors to choose between its mobile unit and its tech investment business, which includes a big stake in Alibaba.

Son has turned himself into a kingmaker in the global tech industry after launching the $93 billion Vision Fund last year, with nearly half the cash coming from the Saudi government. The fund has made big investments in dozens of startups such as WeWork and Slack.

SoftBank has also poured money into high-profile tech companies like Uber and its Chinese rival Didi Chuxing.

Selling shares in the mobile division will raise billions of dollars for Son to hunt down more major deals.

SoftBank will also have the option to sell another 240 billion yen ($2.1 billion) of shares if investor demand is strong, which would put the size of the IPO above $23 billion.

That would make it the second biggest stock market listing of all time, just above Agricultural Bank of China's offering in 2010, according to Dealogic data.

The numbers could still change. SoftBank says its price of 1,500 yen per share is tentative and a final decision will be taken on December 10.

At that price, the IPO would value the mobile division at 7.2 trillion yen ($63 billion). SoftBank will still own at least 60% of the business following the listing.

The shares will start trading on the Tokyo Stock Exchange on December 19.

SoftBank first announced plans for the mobile IPO earlier this year, but didn't say how much money it hoped to raise.

A new risk for the business emerged less than two weeks ago: a damaging price war among Japan's mobile operators.

Rival NTT Docomo (DCMYY) said it will slash prices for its cellphone plans by as much as 40%. Analysts expect SoftBank to follow suit.

Lafayette
Clear
47° wxIcon
Hi: 59° Lo: 41°
Feels Like: 47°
Kokomo
Clear
46° wxIcon
Hi: 57° Lo: 40°
Feels Like: 46°
Rensselaer
Clear
41° wxIcon
Hi: 54° Lo: 34°
Feels Like: 41°
Lafayette
Clear
47° wxIcon
Hi: 56° Lo: 36°
Feels Like: 47°
Danville
Clear
43° wxIcon
Hi: 59° Lo: 39°
Feels Like: 39°
Frankfort
Clear
45° wxIcon
Hi: 60° Lo: 42°
Feels Like: 40°
Frankfort
Clear
45° wxIcon
Hi: 58° Lo: 41°
Feels Like: 40°
Monticello
Clear
43° wxIcon
Hi: 57° Lo: 40°
Feels Like: 39°
Monticello
Clear
43° wxIcon
Hi: 56° Lo: 39°
Feels Like: 39°
Logansport
Clear
43° wxIcon
Hi: 57° Lo: 38°
Feels Like: 39°
Rather Dry, Windy Forecast
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 700775

Reported Deaths: 13167
CountyCasesDeaths
Marion956451709
Lake51038935
Allen38781670
Hamilton34153404
St. Joseph33552538
Elkhart26950431
Vanderburgh21987393
Tippecanoe21560212
Johnson17387373
Porter17124297
Hendricks16690309
Clark12628190
Madison12271337
Vigo12126243
Monroe11302166
LaPorte10716204
Delaware10271184
Howard9590211
Kosciusko9037113
Hancock7896139
Bartholomew7824153
Warrick7665155
Floyd7526176
Wayne6865197
Grant6753168
Boone651099
Morgan6356138
Dubois6060117
Marshall5729108
Cass5662102
Dearborn566175
Henry5554100
Noble535583
Jackson490769
Shelby476095
Lawrence4322118
Gibson426188
Harrison425770
Montgomery415586
Clinton414753
DeKalb404883
Huntington375180
Whitley373939
Miami370865
Knox364689
Steuben360757
Putnam351460
Wabash345777
Jasper343746
Adams337452
Ripley332868
Jefferson307479
White306654
Daviess288299
Wells284480
Decatur278592
Fayette276962
Greene269385
Posey268033
Scott259053
Clay251544
LaGrange250170
Randolph234179
Washington229629
Spencer227331
Jennings224247
Fountain207445
Sullivan207341
Starke200352
Owen191056
Fulton190039
Jay185329
Carroll184820
Perry178936
Orange176152
Rush169824
Vermillion165643
Franklin165135
Tipton160843
Parke143616
Blackford132431
Pike129834
Pulaski112845
Newton102834
Brown99340
Crawford96914
Benton95313
Martin82215
Warren78815
Switzerland7698
Union69510
Ohio55511
Unassigned0405

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events