{"id":26070,"date":"2018-12-19T01:22:30","date_gmt":"2018-12-19T01:22:30","guid":{"rendered":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=26070"},"modified":"2018-12-19T01:22:30","modified_gmt":"2018-12-19T01:22:30","slug":"after-record-japan-ipo-softbank-corp-shares-fall-10pc-on-debut","status":"publish","type":"post","link":"https:\/\/qatar-news.org\/qatarnewsEn\/?p=26070","title":{"rendered":"After record Japan IPO, SoftBank Corp shares fall 10pc on debut"},"content":{"rendered":"<div id=\"body-200771816342556199\" readability=\"103\">\n<p class=\"speakable\">SoftBank Corp shares plunged more than 10 percent in their debut on Wednesday, as investor appetite for Japan&#8217;s biggest ever IPO was hurt by a recent major service outage and worries over its exposure to Chinese telecom giant Huawei.<\/p>\n<p class=\"speakable\">Following its $23.5bn initial public offering, shares of the telecoms unit of SoftBank Group Corp fell as far as 1,344 yen ($11.95) five minutes into trade, or 10.4 percent lower than its IPO price of 1,500 yen ($13.34). The broader Tokyo market was down 1.0 percent.<\/p>\n<p class=\"speakable\">At 9:27am (00:27 GMT), the shares were at 1,367 yen ($12.16), after opening at 1,463 yen ($13.01). SoftBank Group was down 2.7 percent.<\/p>\n<p>SoftBank Corp CEO Ken Miyauchi will hold a news conference at 06:30 GMT.<\/p>\n<p><span>Softbank is listing 1.6 shares, or about one third held by its parent company.\u00a0<\/span><span>The blockbuster IPO is seen as part of SoftBank boss Masayoshi Son&#8217;s strategy of transforming from a Japan-based telecoms company to a global hi-tech investment firm.<\/span><\/p>\n<p><span>It will help raise cash for Son, whose SoftBank Vision Fund is worth an estimated $100bn and has taken stakes in some of the hottest tech firms, including Uber, Slack, WeWork and Nvidia.<\/span><\/p>\n<p>The IPO was just shy of the world record $25bn 2014 listing of Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.<\/p>\n<p>During the IPO period, Japan&#8217;s third-largest mobile phone network provider by subscriber numbers suffered a rare nationwide service outage, which it said would not affect earnings or dividends.<\/p>\n<p>Adding to investor worries, SoftBank Corp&#8217;s relationship with Huawei Technologies Co Ltd came under scrutiny as governments around the world moved to shut out the Chinese firm amid worries its gear could facilitate Chinese spying.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>SoftBank Corp shares plunged more than 10 percent in their debut on Wednesday, as investor appetite for Japan&#8217;s biggest ever IPO was hurt by a recent major service outage and worries over its exposure to Chinese telecom giant Huawei. Following its $23.5bn initial public offering, shares of the telecoms unit of SoftBank Group Corp fell&hellip;<\/p>\n","protected":false},"author":10,"featured_media":26071,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-26070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-middle_east_news"],"_links":{"self":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/26070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26070"}],"version-history":[{"count":0,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/posts\/26070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=\/wp\/v2\/media\/26071"}],"wp:attachment":[{"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/qatar-news.org\/qatarnewsEn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}