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.

West Lafayette
Clear
75° wxIcon
Hi: 89° Lo: 66°
Feels Like: 75°
Kokomo
Overcast
73° wxIcon
Hi: 85° Lo: 64°
Feels Like: 73°
Rensselaer
Broken Clouds
73° wxIcon
Hi: 73° Lo: 63°
Feels Like: 73°
Fowler
Broken Clouds
73° wxIcon
Hi: 84° Lo: 64°
Feels Like: 73°
Williamsport
Broken Clouds
72° wxIcon
Hi: 88° Lo: 66°
Feels Like: 72°
Crawfordsville
Broken Clouds
73° wxIcon
Hi: 85° Lo: 66°
Feels Like: 73°
Frankfort
Scattered Clouds
68° wxIcon
Hi: 86° Lo: 65°
Feels Like: 68°
Delphi
Clear
71° wxIcon
Hi: 88° Lo: 65°
Feels Like: 71°
Monticello
Clear
71° wxIcon
Hi: 82° Lo: 64°
Feels Like: 71°
Logansport
Overcast
70° wxIcon
Hi: 83° Lo: 64°
Feels Like: 70°
WLFI Radar
WLFI Temps
WLFI Planner

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 50300

Reported Deaths: 2748
CountyConfirmedDeaths
Marion11920692
Lake5432248
Elkhart347058
Allen2902133
St. Joseph205169
Hamilton1665101
Cass16449
Hendricks1446100
Johnson1325118
Porter80238
Tippecanoe7599
Clark68144
Vanderburgh6816
Madison67264
LaPorte60527
Howard59458
Bartholomew59345
Kosciusko5704
Marshall5308
Noble50128
LaGrange4829
Jackson4783
Boone47444
Delaware46952
Hancock46036
Shelby43525
Floyd40444
Morgan33631
Monroe32928
Grant30926
Dubois2976
Henry29717
Montgomery29720
Clinton2893
White26810
Decatur25532
Dearborn25423
Lawrence25225
Vigo2478
Warrick24329
Harrison21722
Greene19332
Miami1922
Jennings17912
Putnam1728
DeKalb1674
Scott1639
Wayne1536
Daviess15017
Perry1459
Orange13723
Steuben1362
Jasper1332
Franklin1278
Ripley1277
Wabash1152
Carroll1132
Gibson1132
Fayette1057
Whitley1045
Newton10010
Starke983
Huntington932
Randolph794
Wells791
Jefferson782
Fulton731
Jay680
Washington681
Knox670
Clay665
Pulaski661
Rush613
Posey550
Owen521
Benton510
Spencer501
Adams491
Sullivan471
Brown431
Blackford402
Fountain352
Crawford330
Tipton321
Switzerland300
Martin240
Parke230
Ohio220
Vermillion200
Warren151
Union130
Pike110
Unassigned0193

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