SoftBank to Spin Off Telecom Unit in $21 Billion IPO
*By Carlo Versano*
SoftBank Group, the Japanese multinational conglomerate with stakes in some of the hottest U.S. tech start-ups, is planning a massive IPO for its telecom arm that could become Japan's largest public offering to date, [Bloomberg](https://www.bloomberg.com/news/articles/2018-11-12/softbank-unveils-21-billion-ipo-of-mobile-business?srnd=premium) reported Monday.
SoftBank Founder Masayoshi Son is reportedly seeking $21 billion for the new entity that will be called SoftBank Corp. and begin trading Dec. 19. Citing the prospectus, Bloomberg said the company will offer 1.6 billion shares at 1,500 yen a piece, or roughly $13. That figure could change as the range of the offering is set.
Son has used his $100 billion Vision Fund to transform SoftBank into a holding company with stakes in some of the world's most valuable technology companies, including Uber, WeWork, and Alibaba ($BABA). Softbank's telecom and mobile operation has long been the company's bread and butter, and spinning it off will give Son room to further position himself as a tech kingmaker.
OpenTable CEO joins Cheddar to discuss this summer's top restaurant trends, how best to make a reservation and what perks you can now get on the app. Watch!
Nancy Clark, President of Verizon Value, on Total Wireless’s rebranding and its commitment to top speeds, network quality, and value for prepaid customers.
"Your Money Playbook" by Brandon Copeland offers practical advice on earning, managing, and building wealth, drawing from his NFL career and business education.
Stocks fall for a second day on Wall Street due to weak job data and recession fears. The VIX surges over 60, showing high anxiety and a potential rebound.
