SoftBank Corp. to Raise JPY 120B Via Bonds

According to Bloomberg News, SoftBank Corp will likely decide as early as Sept 25 to raise up to 120 billion yen ($808.79 million) through Japan's first public offering of bond-type class shares.

SoftBank Group's Japanese telecommunications arm first announced the issuance in May, saying the shares would be listed before the end of the 2023 fiscal year, which ends March 31, 2024.

SoftBank stated that the report released today is not based on information it has disclosed.

The shares will not have voting rights and cannot be converted into common shares, so the issuance will have no effect on current shareholders, according to a statement issued by SoftBank in May.

The proceeds will be used for growth investments in telecommunications, IT technologies and "next-generation social infrastructure", it said.