KAZUHIRO NOGI | AFP | Getty Images
The logo of Softbank is displayed at a press briefing on Softbank’s new service in Tokyo on January 15, 2018.
SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor.
Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated.
It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.
The group, which controls the world’s biggest tech private equity fund at nearly $100 billion, will use the proceeds to invest in startups which have ranged from tiny games makers to U.S. ride-hailing giant Uber Technologies Inc.
“Demand was well above the number of shares on offer,” SoftBank Corp said, declining to disclose by how much.
The stock will debut on the Tokyo Stock Exchange’s first section on Dec. 19.