On Monday, December 10th, the Softbank Group Corp. raised over $23.5 billion in IPO, confirming Japan’s one of the biggest IPOs ever. As the company has been transforming in to a monolithic global tech from a domestic telco, the Softbank share was accepted widely.
SoftBank Corp. Telco Group, had set the initial price at 1,500 yen apiece, as the company indicated previously. The company had also told that it would sell extra share and at the end of the day, it summed up the total sales to record $23.5 billion.
Another SoftBank group portfolio company, Alibaba Group Holding Ltd. had raised just a little shy of $2.5 billion in 2014. The SoftBank Group has been controlling the world’s largest tech private equity fund, which is priced nearly at $100 billion.
It would use the raised fund for tech firms ranging from game maker startups to US hailing Uber Technology Inc. Despite raising concerns of oversupply, the SoftBank offered nearly 2 billion shares for sale and the SoftBank authorities said, “Demand was well above the number of shares on offer.
” However, a general manager at SBI securities, the biggest online brokerage firm in Japan, Naoto Akashi commented, “Retail investors see IPO stocks as profitable”, in response to SoftBank Group’s record raise of $23.5 Billion in IPO.