Tencent Technology News Japan's Softbank Group, which is carrying $150 billion in debt, is preparing to spin off the Japanese telecommunications business and cash in its equity. According to the latest news from foreign media, the subsidiary is expected to be listed on the 19th of this month.
According to Reuters quoted industry media DealWatch reported that on the 12th of this month, the listing application is expected to be approved by the relevant authorities. Shares in the subsidiary will be listed on the Tokyo Stock Exchange on the 19th of this month.
Japan's Softbank Corp. Group has a number of businesses, including Japan telecom operator Softbank Corp. Corporation and Yahoo Japan website, Softbank Corp. is also involved in the research and development of self-driving buses.
According to reports, the underwriters of the Softbank listing include Goldman Sachs Group, Nomura Securities, Mizuho Financial Group, Deutsche Bank, and Sumitomo Mitsui Financial Group, while JPMorgan Chase Bank became the new underwriter.
Reuters reported that the listing will be Japan's largest ever IPO case, will also be a major milestone in the transformation of Softbank Corp. Group.
Earlier, foreign media reported that Softbank Group will sell a certain proportion of its shares in Japan Telecom during the listing process, and will cash out $18 billion.
Over the past decade, the Softbank Corp. Group has invested heavily in science and technology around the world, while at the same time carrying a huge $150 billion in debt, and shareholders have asked Softbank Corp. to reduce its debt burden.
In the face of high debt and a long-term slump in share prices, Softbank Corp. Group has embarked on a strategic restructuring of abandoning its traditional physical business as a purer technology investment holding company.
In the US, Softbank Group abandoned the fourth-ranked mobile operator Sprint, which will merge with T-Mobile to become the third largest telecommunications giant in the US to compete with AT&T and Verizon. In the future, Softbank will lose control of Sprint.
In Japan, Softbank Corp. Group also began to spin off the spin-off of telecommunications business. In addition, Softbank Corp. recently sold a large number of stakes, including in Flipkart, India's largest e-commerce company (Wal-Mart bought Flipkart).
Recently, Softbank Group has also fallen into another crisis. The outbreak of reporters in Saudi Arabia was murdered, and the Softbank Group was accused of being too close to Saudi Arabia. Among the Softbank Management Vision Fund, the Saudi Sovereign Wealth Fund provided $45 billion. Softbank also said that more vision funds will be launched in the future, but the media believes that with the Saudi storm, Softbank's dream is impossible to achieve.
Softbank Corp. 's investment spree in the world has also triggered criticism from some people and institutions in the industry. In the major shareholder Softbank Corp. 's push, a number of investment companies appeared merger and consolidation, alleged to damage market competition and consumer interests. For example, Softbank Corp. as a major shareholder of Southeast Asia car-hailing Uber local business, encountered a multi-government antitrust investigation.
According to foreign media reports, Softbank Corp. also pushed for the Indian market, Uber and Ola (both owned by the company) to merge, but was rejected by the founder of Ola.
Bloomberg reported that Softbank is building a global technology empire that Sun Justice controls. Softbank invests in the top companies in the industry. Softbank plans to allow these companies to cooperate and share resources and further expand their advantages. Previously, there was a lot of cooperation news between Softbank holding companies. (integrated / dawn)