Softbank likely to share sale of its mobile business for $18bn
According to the newspaper called Nikkei, the Japanese giant Softbank is expected to release a list of its mobile phone business in Tokyo as well as overseas. The listing on the stock exchange of Tokyo and in London is especially aims to increase 2 trillion yen.
Softbank announced in a statement that the share sale is considered to be an option, but no proper decision has been made yet.
If it goes well, then the stock market listing would be one of the biggest initial public offerings of Japan.
Softbank plans to share sale of its mobile business
Reportedly, the Softbank Group intends to sell around 30 % of the outstanding shares in the subsidiary to its investors, while keeping the stake about 70 %. The company is collecting funds from the overseas investors, mainly through a listing of stock market in London.
The statement revealed that, “We are always studying several capital strategy options.”
“The Softbank Corporation listing shares is one such option to consider, but no official decision has been made to proceed with this course.”
As per the Nikkei, the share sale had rival of Nippon Telegraph as well as Telephone in the year 1987.
Softbank would make use of these proceeds for investing in growth, like buying into foreign information technology firms. The Japanese telecommunications giant is one of the biggest technology companies of the world which is run by it’s founder, Masayoshi Son, a famous Japanese entrepreneur.
Softbank has made various high-profile technology investments and also shown extreme passion for investments in the ride sharing, backing Didi Chuxing of China and taxi-haling app Grab of Southeast Asia, among other organizations.
The company is all set to take a huge stake in Uber, with expanding its holdings in the several other transportation firms around the world. It previously grabbed Japanese operations of Vodafone and the United States telecoms firm Sprint. In the year 2016, Softbank bought the United Kingdom tech firm ARM holdings for $32bn.