SoftBank share price indicates $21.16 bn IPO

SoftBank has set an indicative price of 1,500 yen or $13.23 per share for its initial public offering (IPO).
SoftBank 5GThe deal would be worth 2.4 trillion yen or $21.16 billion, making the IPO as one of the world’s biggest-ever listings, Reuters reported.

The price was unchanged from an initial estimate of 1,500 yen that the domestic telecoms unit of Japan’s SoftBank announced when it launched the IPO earlier this month.

The IPO is aimed at providing the SoftBank group with funds to pay down debt and place big bets on innovations that Chief Executive Masayoshi Son predicts will drive future trends in technology.

The final offer price will be determined on December 10 after the book-building process, in which underwriting banks receive buy orders from prospective investors. The stock is scheduled to begin trading on December 19.