Nomura, Daiwa to Lead Sales Push in Record SoftBank IPO

(Bloomberg) -- Nomura Holdings Inc. and Daiwa Securities Group Inc. will lead the sales effort for Japan’s biggest initial public offering ever, the sale of stock in SoftBank Group Corp.’s domestic wireless operation, according to two people familiar with the matter.

Nomura plans to sell about 630 billion yen ($5.5 billion) of shares in the SoftBank unit in Japan and overseas, while Daiwa is responsible for underwriting about 450 billion yen, according to the people, who asked not to be identified because the details are private.

SoftBank plans to raise at least 2.4 trillion yen in the offering as it lists shares on the Tokyo Stock Exchange, with trading scheduled to begin Dec. 19. Including an overallotment, SoftBank could raise 2.6 trillion yen by selling 37 percent of the shares. The mobile business is valued at more than 7 trillion yen.

Mizuho Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. will sell about 400 billion yen of shares respectively, while Goldman Sachs Group Inc., Deutsche Bank AG, JPMorgan Chase & Co. will sell more than 30 billion yen of shares abroad, according to the people.

SoftBank selected Nomura, Goldman Sachs, Deutsche Bank AG, JPMorgan and the brokerage units of Mizuho and SMFG as the joint global coordinators, the company said in a document Monday.

SBI Holdings Inc.’s brokerage unit SBI Securities Co., Japan’s biggest online broker, will sell about 150 billion yen worth of SoftBank shares, according to the people. It will be the first time for SBI, originally backed by SoftBank, to join the lead underwriters in a global deal.

Representatives at SoftBank and the banks declined to comment on the underwriting shares.

To contact the reporter on this story: Takahiko Hyuga in Tokyo at thyuga@bloomberg.net

To contact the editors responsible for this story: Takashi Amano at tamano6@bloomberg.net, Peter Elstrom, Robert Fenner

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