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SoftBank's mobile unit's share price set for Dec. 19 IPO

Posted December 10, 2018 6:00 am

The Associated Press

TOKYO (AP) - SoftBank Group Corp. says the price for the initial public offering of its Japanese mobile subsidiary has been set at 1,500 yen ($13) a share.

The IPO, set for Dec. 19 on the Tokyo Stock Exchange, will likely raise more than 2 trillion yen ($18 billion) and will be one of the world's biggest IPOs.

The company announced the offering price on Monday. It is listing 1.6 billion shares.

SoftBank Group's chief, Masayoshi Son, has drawn attention for his relations with Saudi Arabian Crown Prince Mohammed bin Salman after the killing of Saudi journalist Jamal Khashoggi.

About half of SoftBank Group's $100 billion investment money called Vision Fund, comes from the kingdom. The fund has been investing in solar projects and artificial intelligence.

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