Photo by MIKI Yoshihito/Flickr
Last Monday, the Nikkei Newspaper said that SoftBank Group Corp plans to list the core mobile-phone unit of the company in Tokyo and overseas as early as spring of this year, raising around 2 trillion yen ($18 billion) in one of biggest initial public offerings of Japan.
The newspaper said that the parent would sell around 30 percent of SoftBank Corp, planning to debut the shares on the Tokyo Stock Exchange (TSE) and in other places, probably in London, around the period of autumn, failing to cite any sources for the said information.
It said that the IPO would match the 2.2 trillion yen 1987 listing of Nippon Telegraph and Telephone Corp in terms of size.
Officials of SoftBank could not immediately be contacted for comment.
The newspaper said that the listing would strive to offer the mobile-phone unit more autonomy in a group that have already become more of an international investment firm in recent years. The Nikkei said that SoftBank would make use of the proceeds to invest in growth, such as buying into foreign information-technology companies.