Sunday , October 17 2021

SoftBank's IPO of Japan's cellular communication network has exceeded $ 21 billion

TOKYO: Telecoms giant SoftBank is planning to sell Japanese mobile communication units next month, which is over $ 21 billion and can be one of the largest technological IPOs of the year.

IPO helps the company to raise funds, as it becomes more and more an investment firm, and invests in a wide range of companies and projects around the world.

IPO will be held in Tokyo on December 19 and $ 1.6 billion at SoftBank Corp. The offer will be 1500 yen (US $ 13).

This mobile unit is estimated at 7.18 trillion yen and IPO can be the largest Japanese one.

The company announced its intention to go ahead with the IPO after its February media outlook.

The listing said that the mobile department will be given a "big administrative autonomy".

As reported on Monday, SoftBank's listing will allow us to clarify the roles of the parent company (SBG) and its Japanese mobile divisions.

"SBG accelerates global investment, and SB is the Group's major telecommunication business," a statement reads.

"We hope that each of the two companies will be able to clarify their business information to the market and respond better to the diverse needs of investors," he said.

After listing, SoftBank owns 63.14% of its mobile office.

According to S & P Ratings experts, the IPO "focuses on SoftBank's transition to an investment holding company."

According to Masayoshi Son, Chief Executive Officer, SoftBank has been the beginning of the software and is often seen as an investment firm.

100 billion Using the SoftBank Vision, calculated at an approximate dollar rate, the Son company took the share of the hottest firms in the technical sector, including Uber, Slack, WeWork and Nvidia.

Almost half of the money in Saudi Arabia has been closely linked to the Kingdom in recent weeks after the death of journalist Jamal Hashogi in the Saudi consulate in Saudi Arabia.

At the beginning of this month, my son condemned the murder, but said he would continue to do business with Saudi Arabia.

"Because of this incident, we can not stand up to people in Saudi Arabia, because we work to help them make a lasting impetus to reform and modernize the society," he said.

After announcing its ultimate profit, the company soon made a comment after announcing the net profit of eight times from six months to September, largely due to the strong return on its investment funds.

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