- Reuters / Kim Kyung Hoon
- SoftBank priced its initial public offering Monday.
- The conglomerate is set to raise as much as 2.65 trillion Japanese yen ($23.5 billion) through the issuance of up to 1.76 billion shares at 1,500 yen ($13) apiece.
- That makes it the biggest-ever IPO in Japan and one of the largest of all time globally, just shy of Alibaba‘s $25 billion US IPO.
- SoftBank will debut on the Tokyo Stock Exchange on December 19.
Japan’s SoftBank on Monday announced that it will raise 2.65 trillion Japanese yen ($23.5 billion) through an initial public offering with overallotment.
The conglomerate will sell up to 1.76 billion shares, including an additional 160 million shares to meet strong demand, at a price of 1,500 Japanese yen ($13) per share, according to a press release.
At $23.5 billion, the IPO will be the biggest ever in Japan and one of the largest of all time globally, just shy of the record $25 billion that Chinese e-commerce giant Alibaba raised through a US IPO in 2014 at the current exchange rate.
SoftBank’s CEO, Masayoshi Son, has drawn global attention for his relations with Saudi Crown Prince Mohammed bin Salman following the killing of Saudi journalist Jamal Khashoggi. About half of SoftBank’s $100 billion Vision Fund – a fund that has been investing in solar projects and artificial intelligence – comes from the kingdom.
SoftBank will debut on the Tokyo Stock Exchange on December 19.