SEVERE WX : Flash Flood Watch - Flash Flood Warning View Alerts

SoftBank's mobile IPO is the second biggest in history

SoftBank is raising $23.5 billion from the IPO of its Japanese mobile business, making it the second biggest...

Posted: Dec 10, 2018 12:18 PM
Updated: Dec 10, 2018 12:18 PM

SoftBank is raising $23.5 billion from the IPO of its Japanese mobile business, making it the second biggest stock market listing ever.

Strong demand from investors for a piece of one of Japan's biggest wireless carriers prompted the Japanese tech company to increase the number of shares available by 160 million.

Banking, finance and investments

Business, economy and trade

Companies

Financial markets and investing

Financing and stock offering

Initial public offering

SoftBank Group Corp

Alibaba Group

Technology

Asia

Continents and regions

East Asia

Japan

It priced the shares at 1,500 yen ($13) each, raising a total of 2.65 trillion yen ($23.5 billion), it said in a statement Monday.

That makes it Japan's biggest ever IPO — and the world's largest since Alibaba (BABA) raised $25 billion when it went public in New York in 2014, according to data from Dealogic.

Listing the mobile business is a key part of CEO Masa Son's efforts to reposition SoftBank (SFTBY) as a global tech investor. The transaction splits 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 become a major player in the global tech industry after launching the almost $100 billion Vision Fund last year. Nearly half the money came from the Saudi government.

The Vision Fund has plowed cash into dozens of startups like WeWork and Slack.

SoftBank has also made big investments in 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.

Shares in the mobile unit begin trading in Tokyo on December 19.

New York Coronavirus Cases

County data is updated nightly.

Cases: 2537823

Reported Deaths: 56270
CountyCasesDeaths
Kings33533010862
Queens31620210308
Suffolk2406933616
Nassau2150853300
Bronx2081546756
New York1687034643
Westchester1439382344
Erie1073581959
Richmond893051939
Monroe851201189
Orange57824920
Rockland53317779
Onondaga52624765
Dutchess35811500
Albany31130390
Oneida28916592
Broome24801409
Niagara24280398
Saratoga20545205
Ulster17373280
Schenectady16970229
Rensselaer15006170
Chautauqua12556175
Putnam1255098
Oswego11868115
Chemung11069158
St. Lawrence10742128
Steuben10304174
Ontario9467111
Jefferson903578
Cayuga8745107
Sullivan854183
Wayne830685
Cattaraugus7863118
Genesee7120132
Herkimer6890129
Clinton683740
Tompkins658059
Fulton6465104
Madison6288102
Montgomery6063143
Livingston581171
Warren559484
Cortland541380
Tioga519472
Columbia5053111
Chenango474688
Allegany471598
Washington471468
Otsego462655
Wyoming443458
Greene442587
Orleans441089
Franklin436422
Lewis365338
Delaware360348
Seneca276763
Essex237533
Schoharie233723
Yates167728
Schuyler155817
Hamilton4393
Unassigned14123
Out of NY0319
Utica
Cloudy
54° wxIcon
Hi: 54° Lo: 50°
Feels Like: 54°
Oneonta
Cloudy
49° wxIcon
Hi: 52° Lo: 47°
Feels Like: 44°
Herkimer
Cloudy
54° wxIcon
Hi: 55° Lo: 50°
Feels Like: 54°
Old Forge
Cloudy
54° wxIcon
Hi: 52° Lo: 48°
Feels Like: 54°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
Game Day Deals - New Deals Each Week
Chapter Aesthetic October Giveaway
Cool To Be Kind 2021
Looking for work or looking to hire? Check out the WKTV Job Fair!
Saluting Those Who Are Proud 2 Serve