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Nikkei: SoftBank mobile unit to file for IPO soon as July

Published 06/25/2018, 11:55 AM
© Reuters.  Nikkei: SoftBank mobile unit to file for IPO soon as July
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  • SoftBank (SFTBY -3.4%) will apply to list its Japanese mobile unit in Tokyo as soon as next month, Nikkei reports.
  • And the unit could debut on Tokyo's first section by the end of the year.
  • That would provide capital that SoftBank covets to accelerate its transition into technology investing. While the home wireless business isn't a growth driver, it generates annual cash flow of about ¥500B (about $4.56B) and posted operating profit of about ¥680B ($6.18B) for the year ended in March.
  • Previously: SoftBank CEO wants to focus on late-stage investments, unicorns (Jun. 20 2018)
  • Previously: FT: SoftBank to add $5B to Vision Fund for employees (Jun. 19 2018)
  • Now read: SoftBank On A Growth Trajectory


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