Nomura, Daiwa to lead sales push for SoftBank IPO, Japan’s biggest offering

Photographer: Akio Kon/Bloomberg

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.

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.