Nomura Holdings Inc and Daiwa Securities Group Inc will lead the sales effort for Japan’s biggest initial public offering ever, the sale of stock in SoftBank Group Corp‘s domestic wireless operation, according to two people familiar with the matter.
Nomura plans to sell about 630 billion yen ($5.5 billion) of shares in the SoftBank unit in Japan and overseas, while Daiwa is responsible for underwriting about 450 billion yen, according to the people, who asked not to be identified because the details are private.
SoftBank plans to raise at least 2.4 trillion yen in the offering as it lists shares on the Tokyo Stock Exchange, with trading scheduled to begin Dec. 19. Including an overallotment, SoftBank could raise 2.6 trillion yen by selling 37 percent of the shares. The mobile business is valued at more than 7 trillion yen.
Mizuho Financial Group Inc and Sumitomo Mitsui Financial Group Inc will sell about 400 billion yen of shares respectively, while Goldman Sachs Group Inc, Deutsche Bank AG, JPMorgan Chase & Co will sell more than 30 billion yen of shares abroad, according to the people.
SoftBank selected Nomura, Goldman Sachs, Deutsche Bank AG, JPMorgan and the brokerage units of Mizuho and SMFG as the joint global coordinators, the company said in a document today.
Representatives at SoftBank, Nomura and Daiwa declined to comment on the underwriting shares.