Japanese internet to investment company SoftBank Group Corp. is seeking to raise a 2 trillion yen ($18 billion) from Japanese individuals in the initial public offering (IPO) of its mobile phone unit.
SoftBank is seeking to sell about $22.1 billion to $26.5 billion of shares in the mobile unit, whose market value would be about $70.7 billion.
Japanese financial holding company Nomura Holdings Inc. will sell the biggest part of the shares to the retail investors, part of an IPO that could raise about $26.5 billion in total.
SoftBank Group plans to start marketing this month.