Deals
SoftBank Sells All Shares for $23 Billion Telecom IPO
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SoftBank Group Corp.’s 2.65 trillion yen ($23.5 billion) initial public offering for its telecom unit was fully subscribed, including an extra allotment of shares, people familiar with the matter said.
The underwriters were able to cover their entire book by Wednesday, thanks to strong demand from retail investors in Japan and overseas buyers, said the people, who asked not to be identified because the information isn’t public. Brokers are collecting more orders from individual investors, which will probably push the stock above the preliminary price of 1,500 yen apiece when trading begins on Dec. 19, they said.