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.
Archegos's Bill Hwang turned $10 billion into $160 billion into nothing. Plus: Intuit's layoffs, Elon's travails, Boeing's bad week, Jerome Powell, and mor
Language learning apps surged in 2024, with Babbel offering interactive lessons, vocabulary practice, and grammar exercises for effective language acquisition.
The Mind-Money Connection explores how managing finances can boost happiness and uncover the real impact personal finances have on mental health and well-being.
WASHINGTON (AP) — Tax preparation and financial software company Intuit announced an AI-focused reorganization plan Wednesday that includes laying off abou
Target will no longer accept personal checks from shoppers as of July 15 in a sign of how a once ubiquitous payment method is going the way of the dodo.
