SoftBank (OTCMKTS:SFTBY) is preparing for what could be one of the largest IPOs in history.
The SoftBank IPO will be for the company’s mobile division. If all goes according to the company’s plans, it will be selling $21 billion worth of stock for its mobile unit. This would have it being the largest IPO since Alibaba (NYSE:BABA) went public in 2014.
The IPO will also include the option for underwriters to purchase an additional $2.10 billion worth of the stock. This gives the SoftBank IPO the opportunity to reach a total over $23 billion. If this happens, it will make it the second largest IPO in the history of stock markets.
It is important to note that there is still room for change in the SoftBank IPO plans. The company says that it will be revealing the final details of its IPO plans on Dec. 10, 2018. Until then, prices and share amounts aren’t set in stone, reports CNNBusiness.
The idea of holding an IPO for its mobile division could be a boon to SoftBank stock. It will allow the company to create a distinct division between its business of investing in tech companies and its mobile unit.
The Softbank IPO for its mobile division will take place on Dec. 19. It will have the company listing its shares on the Tokyo Stock Exchange. The IPO will have SFTBY retaining a 66.5% stake in its mobile business.
SFTBY stock was largely unaffected by the IPO news as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.