Three banks to be hired in SoftBank unit IPO – report

Business | Technology 10/12/2018, 7:20 PM
Three banks to be hired in SoftBank unit IPO – report

Goldman Sachs Group Inc, Nomura Holdings Inc. and Deutsche Bank AG will be named as underwriters by SoftBank Group Inc. in the process of listing the Japanese company's mobile telecommunications division, the Financial Times reported on Friday without revealing sources. The initial public offering is seen bringing in ¥2.3 trillion to ¥2.8 trillion, or $21 to $25 billion, mostly from domestic investors, insiders revealed.

The news outlet learned the sale is planned to be finished by the end of the year and that four more domestic banks and brokerages are under consideration. SoftBank, led by founder and chief executive Masayoshi Son, is said to be preparing a roadshow in a month for the potentially largest flotation in the home country or even the world. The stake is speculated to be between 33% and 35%.

The internet industry giant announced last week with Toyota the foundation of Monet Technologies Corp., a joint venture for car-dispatch and mobility services, with aspirations for electric vehicles.

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