SoftBank prepares for IPO of Japanese telecom unit, seeks to raise $18 bn

SoftBank Group Corp said on Wednesday that it wants to list its Japanese telecoms unit this year, a move towards completing its transformation from a domestic telecoms upstart into one of the world's biggest technology investors. SoftBank said it started preparations to list shares of its core Japanese telecoms unit, SoftBank Corp.

The company flagged last month that it was considering listing the business, seeking to raise a reported $18 billion. SoftBank has long relied on its domestic telecoms business, which makes up a third.

This article is no longer available in our repository.

There could be multiple reasons for this.