SoftBank chalked up another first in Japan on Friday, setting a single indicative price of 1,500 yen for its telco IPO rather than the usual range, pegging the share sale at 2.4 trillion yen ($21.16 billion) in the country's biggest-ever listing.
The price was unchanged from the estimate that SoftBank Corp, the domestic telecommunications subsidiary of Japan's SoftBank Group Corp, announced when it launched the initial public offering (IPO) earlier this month.
The IPO is aimed at providing the group with funds to pay down debt and place big bets on innovations that Chief Executive Masayoshi Son predicts will drive future tech trends.
Reasons for sticking with the first estimate were not immediately clear. Brokerages initially expressed concern over whether there would be sufficient demand for the IPO given the size of the sale but have since reported strong interest.