SoftBank’s Pioneering Bond-Type Stock Rises on Trading Debut
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SoftBank Corp.’s corporate bond-type stock traded on the Tokyo Stock Exchange today at more than the offering price, in the first listing of its type in Japan.
The ¥120 billion ($800 million) of publicly sold class shares debuted under the issue code “94345,” which is SoftBank’s ticker plus a “5.” The shares were traded at ¥4,035 as of 1 p.m. in Tokyo, compared with an offering price of ¥4,000.