Advertisement
Canada markets close in 4 hours 54 minutes

  • S&P/TSX

    21,744.67
    -129.05 (-0.59%)
     

  • S&P 500

    5,003.95
    -67.68 (-1.33%)
     

  • DOW

    37,813.68
    -647.24 (-1.68%)
     

  • CAD/USD

    0.7297
    -0.0001 (-0.01%)
     

  • CRUDE OIL

    82.12
    -0.69 (-0.83%)
     

  • Bitcoin CAD

    86,908.58
    -2,290.37 (-2.57%)
     

  • CMC Crypto 200

    1,371.76
    -10.81 (-0.78%)
     

  • GOLD FUTURES

    2,346.80
    +8.40 (+0.36%)
     

  • RUSSELL 2000

    1,965.77
    -29.66 (-1.49%)
     

  • 10-Yr Bond

    4.7120
    +0.0600 (+1.29%)
     

  • NASDAQ

    15,444.60
    -268.15 (-1.71%)
     

  • VOLATILITY

    17.07
    +1.10 (+6.88%)
     

  • FTSE

    8,062.88
    +22.50 (+0.28%)
     

  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     

  • CAD/EUR

    0.6810
    -0.0009 (-0.13%)
     
BREAKING:

HONDA TO SET UP $15B EV PRODUCTION BASE IN CANADA

Automaker to get up to $5B in government assistance for EV battery, assembly plants

SoftBank picks Nomura, Goldman, three others to lead mobile unit's IPO: source

Reuters
FILE PHOTO : A man talks on the phone as he stand in front of an advertising poster of the SoftBank telecommunications company in Tokyo October 16, 2015. REUTERS/Thomas Peter/File Photo

By Taro Fuse

TOKYO (Reuters) - SoftBank Group Corp has chosen five investment banks, including units of Nomura Holdings Inc and Goldman Sachs, as lead underwriters for the mammoth initial public offering of its mobile-phone unit, a person with direct knowledge of the matter said on Friday.

The other institutions are Mizuho Financial Group Inc, Deutsche Bank AG and the SMBC Nikko Securities Inc unit of Sumitomo Mitsui Financial Group Inc, the source told Reuters, on condition of anonymity as the deal is not public.

Media representatives for SoftBank and the financial institutions declined to comment.

ADVERTISEMENT

Bloomberg News reported Friday that the Japanese investment and technology firm aims to sell around 3 trillion yen ($27 billion) of shares, the biggest IPO ever, listing on the Tokyo Stock Exchange in December.

An IPO of that scale would be the biggest ever, topping the $25 billion worth of shares sold by China’s Alibaba in New York in 2014, and the $22 billion raised by Agricultural Bank of China in Hong Kong in 2010.

Goldman Sachs has long had close ties with SoftBank. Its former Asia-Pacific chairman, Mark Schwartz, sits on the board of SoftBank.

(Reporting by Taro Fuse; Additional reporting by Junko Fujita, Taiga Uranaka and Yoshiyasu Shida; Writing by William Mallard; Editing by Muralikumar Anantharaman)