The mobile subsidiary of the Japanese technology group Softbank Group in Tokyo and a weak stock market debut. The share price of SoftBank Corp, listed on Wednesday at the home stock exchange at the close of trading with 1282 Yen, or more than 14 per cent below the issue price of 1500 Yen. Of 2.65 trillion Yen (20.7 billion euros) took of the group. 36.85% of the shares were listed in Tokyo. Softbank will retain control. The telecommunications business is considered to be the money machine of the Softbank group. It is the largest IPO was in Japan.
The billionaire Masayoshi Son is pushing ahead with the Mega-placement, the realignment of his Empire. As a mobile provider, grown up group now operates more and more as a technology Investor. Among other things, with a massive injection of money from Saudi Arabia Son put on the 100 billion-Dollar Vision Fund for investments in technology companies.
The Fund increased by, among other things, in the case of Uber and other car service intermediaries. After the murder of journalist Jamal Khashoggi the Saudi Consulate in Istanbul has been increasingly criticized, that Softbank is leaving so much on money from the country. The Softbank founder is in need of at the same time, new sources of money, to be able to continue to invest. He wanted to use the IPO the funds raised to invest more in the Vision of the Fund, as well as to repay debts, said Son.
