SoftBank has over 39 million mobile subscribers spread across Japan and will be a key player in the country’s rollout of 5G
Japan’s SoftBank Group is to proceed with a $21 billion (2.4 trillion yen) initial public offering (IPO) of its telecoms arm, according to a report by Reuters.
The IPO will be one of the biggest in the history of the global telecoms sector, with SoftBank offering 1.6 billion shares at an initial price of $13.17 (1,500 yen) per share.
Earlier this month, SoftBank named Nomura, Goldman Sachs and Deutsche Bank amongst the underwriters for the IPO, as well as local firms Mizuho Financial Sumitomo Mitsui Financial.
SoftBank is among a clutch of Japanese mobile network operators who are looking to rollout 5G services in 2019. The money from the IPO is likely to be poured into that and will also help SoftBank guard against tricky market conditions in Japan. Earlier this year, the Japanese government called on telcos to lower the cost of their monthly subscription packages and to provide more services for users.
SoftBank’s IPO is expected to take place on the 19th of December, with the final share price being confirmed by the 10th December.
Also in the news:
Japanese MNOs to rollout 5G one year ahead of schedule
Asia’s top telcos: Two ends of the spectrum for 5G