SoftBank's mobile IPO is the second biggest in history - News Summed Up

SoftBank's mobile IPO is the second biggest in history


Hong Kong (CNN Business) SoftBank is raising $23.5 billion from the IPO of its Japanese mobile business, making it the second biggest stock market listing ever. Listing the mobile business is a key part of CEO Masa Son's efforts to reposition SoftBank ( SFTBY ) as a global tech investor. The transaction splits the company in two, allowing investors to choose between its mobile unit and its tech investment business, which includes a big stake in Alibaba. Son has become a major player in the global tech industry after launching the almost $100 billion Vision Fund last year. Shares in the mobile unit begin trading in Tokyo on December 19.


Source: CNN December 10, 2018 09:00 UTC



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