Nikkei: Tokyo exchange set to approval SoftBank telecom listing

|About: SoftBank Group ADR (SFTBY)|By:, SA News Editor

The Tokyo Stock Exchange is set for a Monday approval of the listing for SoftBank's (OTCPK:SFTBY) mobile IPO, Nikkei reports, setting the stage for a Dec. 19 debut.

That move would start the process of selecting underwriters and setting the marketing price range.

Listing approval would settle what has been a mildly contentious question over having both SoftBank and its subsidiary listed.

SoftBank is seen raising about ¥2.5T (some $22B) in an offering that would value the telecom unit from ¥7T-¥8T ($61.6B-$70.4B).

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