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SoftBank mulls $18-bn Japan wireless unit IPO to fund its tech investments

It plans to seek approval from the Tokyo Stock Exchange as early as spring and aims to debut in Tokyo as well as overseas, possibly London, around autumn

Reuters  |  Tokyo 

SoftBank Group Corp said on Monday it was considering listing its Japanese wireless business, seeking to raise a reported $18 billion in a move that would accelerate the conglomerate's transformation into one of the world's biggest tech investors. A spin-off – potentially the biggest IPO by a Japanese company in nearly two decades – would also give the unit more autonomy as well as help investors with valuing the business and its parent. SoftBank Group, which saw its shares climb four per cent on the news, has a vast range of holdings, including stakes in ...

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First Published: Tue, January 16 2018. 02:57 IST