November 2, 2018 / 11:20 AM / 19 days ago

SoftBank's mobile unit set to win listing approval on November 12: DealWatch

FILE PHOTO: People walk behind the logo of SoftBank Corp in Tokyo December 18, 2014. REUTERS/Toru Hanai/File Photo/File Photo

TOKYO (Reuters) - Japan’s SoftBank Group Corp (9984.T) is expected to win listing approval for its mobile unit from the Tokyo Stock Exchange on Nov. 12 and the listing date is likely to be Dec. 19, DealWatch reported on Friday citing unnamed sources.

JP Morgan (JPM.N) joins Nomura Holdings (8604.T), Goldman Sachs (GS.N), Mizuho Financial Group (8411.T), Deutsche Bank (DBKGn.DE) and the SMBC Nikko Securities unit of Sumitomo Mitsui Financial Group (8316.T) as joint global coordinators for the initial public offering, DealWatch reported.

SoftBank did not immediately respond to a request for comment.

The listing, which could be Japan’s biggest ever, will mark the transformation of SoftBank and its more than $93 billion Vision Fund into one of the world’s largest technology investors. It will also free up more cash for investments ranging from ride-sharing to solar energy.

Reporting by Sam Nussey; Editing by Susan Fenton and Edmund Blair

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