SoftBank working with Nomura for $19 billion mobile IPO, say sources

SoftBank hasn't decided how it would split the offering between domestic and overseas investors

SoftBank Group Corp. is working with  Nomura Holdings Inc. as it makes early preparations for an initial public offering of its domestic telecom business that could raise more than 2 trillion yen ($19 billion), said people with knowledge of the matter.

SoftBank is considering marketing most of the offering to Japanese individuals, said the people, who asked not to be identified because the information is private. While no official mandates have been assigned, Nomura is advising the company on matters such as its strategy for distributing the shares, corporate governance and documentation needed to list on the Tokyo Stock Exchange,