SoftBank jumps to seven-week high on news of Alibaba U.S. listing
TOKYO (Reuters) - Shares in SoftBank Corp jumped as much as 6.6 percent to a seven-week high of 8,239 yen on Monday morning after its Chinese e-commerce affiliate Alibaba Group Holdings decided to hold its long-awaited share listing in the United States.
Alibaba said in a statement on Sunday it had decided to begin the U.S. IPO process, ending months of speculation about where it would go public.
The Chinese firm is in discussions with six banks to underwrite the deal, set to be the most high-profile public offering since Facebook Inc's listing nearly two years ago.
- Sierra Leone declares emergency as Ebola death toll hits 729 |
- S&P500 index posts worst fall since April; indexes down for July
- U.S. man sues soccer star Cristiano Ronaldo over CR7 trademark
- Israel, Palestinian militant groups agree to three-day Gaza truce |
- Moscow fights back after sanctions; battle rages near Ukraine crash site |