With approval from Japanese financial regulators in hand, SoftBank is working toward a $21.04 billion initial public offering of its telecom business. SoftBank plans to keep around two-thirds of shares in the company and list the remainder on the Tokyo Stock Exchange on Dec. 19.
The IPO is seen as a way for SoftBank to pay down debt while raising additional capital to continue investing in various technology companies by way of its $100 billion Vision Fund.
