IPO Profile: Softbank Corp.
Tokyo, Dec. 12 (Jiji Press)--Major mobile phone carrier Softbank Corp. <9434> is set to go public on the first section of the Tokyo Stock Exchange on Dec. 19, in what will probably be the largest initial public offering in Japan.
The value of Softbank shares to be released for the IPO is seen reaching up to about 2.6 trillion yen, topping the 2.3 trillion yen for Nippon Telegraph and Telephone Corp. <9432>, which went public in 1987. NTT's stock listing has been the largest IPO in Japan.
Based on Softbank's per-share offering price of 1,500 yen, the mobile carrier's market capitalization stands at about 7 trillion yen, making the company one of the top 10 firms among all listed businesses in the country.
The unit of Softbank Group Corp. <9984> has a total of about 40 million subscriptions, including for its Y!mobile brand discount services, ranking third in the domestic mobile phone market, after NTT Docomo Inc. <9437> and KDDI Corp. <9433>.
Talks on reducing mobile service fees have started in Japan, while no major growth in subscriptions is expected in a saturated market.
[Copyright The Jiji Press, Ltd.]