SoftBank sells all shares for US$23bil telecom IPO
The underwriters were able to cover their entire book by Wednesday, thanks to strong demand from retail investors in Japan and overseas buyers, said the sources.
TOKYO: SoftBank Group Corp’s 2.65 trillion yen (US$23.5bil) initial public offering (IPO) for its telecom unit was fully-subscribed, including an extra allotment of shares, sources said.
The underwriters were able to cover their entire book by Wednesday, thanks to strong demand from retail investors in Japan and overseas buyers, said the sources.
Brokers are collecting more orders from individual investors, which will probably push the stock above the preliminary price of 1,500 yen apiece when trading begins on Dec 19.
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