Japan's SoftBank prices IPO, to raise $23.5 billion with overallotment

TOKYO: SoftBank Corp priced its initial public offering (IPO) at 1,500 yen per share and will sell an additional 160 million shares to meet strong demand, a regulatory filing showed, raising 2.65 trillion yen ($23.5 billion) in Japan's biggest-ever IPO.

That makes the IPO one of the largest of all time globally, just shy of the record $25 billion that Chinese e-commerce firm Alibaba Group Holding Ltd raised in 2014 at the current exchange rate.

The price set by SoftBank Group Corp's Japanese telecommunications unit was unchanged from the indicative price and its overallotment option will be exercised in full, the filing to the finance ministry showed on Monday. ($1 = 112.7200 yen)