In a regulatory filing today, SoftBank Group said it set an indicative price of 1,500 yen ($ 13.22) per share for the initial public offering of its national telecommunications unit next month. This means that the offering has a potential value of 2.4 trillion yen (about $ 21.16 billion), making it one of the largest IPOs in history. Pricing is the same as the SoftBank tentative revealed in a previous filing earlier this month.
The IPO is scheduled for December 19 on the Tokyo Stock Exchange and its final price will be determined on December 10. The record of the largest IPO is currently held by Alibaba Group, which raised a total of $ 25 billion in 2014. Demand for SoftBank Group shares is sufficient, a general holding can potentially increase its total offering by 240.6 1 billion yen (or about $ 2.12 billion), bringing it closer to the amount raised by Alibaba.
An interesting aspect of this initial public offering is the efforts of the SoftBank Group to reach out to retail investors. For example, brokers have run television commercials for the deal in Japan.
SoftBank’s brand recognition may attract individual investors, but at the same time it should also answer questions about the performance of your Vision Fund’s investments, as well as the $ 100 billion fund’s reliance on Saudi Arabia after the assassination. of a journalist. Jamal Khashoggi.
Your main sponsor, the Saudi Arabian Public Investment Fund (PIF), contributed $ 45 billion into the Vision Fund and may place the same amount in the Second Vision Fund. The PIF is led by Crown Prince Mohammed bin Salman, who has been implicated by the Central Intelligence Agency and Turkish officials in planning Khashoggi’s death.
