Business
SoftBank Corp shares drop 14% on their first day of trading,
- but it’s still one of the largest IPOs ever
SoftBank Corp.’s initial public offering today started with a bang before trailing off into a whimper. The company is the mobile unit of SoftBank Group, whose holdings also include Sprint and the $100 billion Vision Fund.
Softbank is the sixth-largest telephone operating company by total revenue ($74.7 B USD). The top 10 telephone operating companies are: AT&T, Verizon Communications, Tata Group, Nippon Telegraph & Tel, Deutsche Telekom, Softbank, Telefónica, Reliance Jio, Vodafone, América Móvil.
On May 31, 2016 SoftBank announced to sell a stake in Alibaba. SoftBank said that it planned to sell approximately $8 billion of its shares in Alibaba. The reason: The Japanese company is seeking to pay down some of its hefty debt load.
Continue Reading
-
Business5 days agoCBN reduces MPR by 350bps to 23% in major monetary policy shift
-
Business7 days agoJetour takes T1 adventure SUV experience to Abuja, targets growing Nigerian market
-
Football4 days agoSaka: England still carry World Cup scar
-
Comments and Issues5 days agoSometimes, goodwill finds us through the people we love
-
Football7 days agoNigeria vs Colombia: Falconets battle for U-20 World Cup semi-final ticket
-
Football1 week agoBreaking:Brighton shocks Arsenal 3-0 as Gunners’ perfect start comes crashing down
-
Latest2 days agoArsenal eye €70-80m move for Real Madrid star
-
Comments and Issues6 days agoPeter Obi and the Pensioners’ Testimony