Japanese internet to investment company SoftBank Corp has fixed an indicative price of $13.23 per share for its initial public offering (IPO), making the move worth 2.4 trillion yen ($21.16 billion).
The price was consistent with the initial estimate that SoftBank’s domestic telecoms subsidiary revealed when it launched the IPO earlier last month.
The IPO is intended for providing SoftBank group with finances to pay down debt and place big bets on innovations that will drive future trends in technology.
Japanese financial holding company Nomura, retail banking firm Mizuho, Germany’s Deutsche Bank, U.S. peer Goldman Sachs, JP Morgan and SMBC Nikko are joint coordinators for the IPO.