SoftBank Corp. was given an indicative price on Friday that matched the early estimate for the Tokyo flotation, potentially valuing the mobile telecommunications operator at ¥2.4 trillion or $21.16 billion. In the step in the process for the huge initial public offering, SoftBank Group Corp. skipped the possible filing of a target range, which may indicate confidence after it obtained information from investors about the prospects for its subsidiary.
Formerly SoftBank Mobile, the company is scheduled to determine the price on December 10 and start trading nine days later. Orders start next week. Nomura Holdings Inc., Daiwa Securities Group Inc. and SMBC Nikko Securities Inc. are among the underwriters. Documents showed four fifths of the listed stake is intended for domestic retail investors, who are being wooed with a television advertisement campaign. SoftBank is selling more than a third of the business if the overallotment option is fully included.