TOKYO : Japan's SoftBank Corp's bond-type shares were listed on the Tokyo Stock Exchange on Thursday in the first such listing in Japan, raising a total of 120 billion yen ($799 million) on strong retail and institutional investor demand.
SoftBank CEO Junichi Miyakawa said that the money would be used to fund its medium-term plans, including building out"next generation social infrastructure".
On Tuesday, the telecoms firm said it had commenced operations of a computing platform through which it aims to develop an LLM in 2024. The offering was primarily aimed at retail investors and demand appears to have been strong among both retail and institutional investors. As the shares are publicly listed, they can be purchased through the tax-efficient Nippon Individual Savings Account , unlike corporate bonds."This product has played a role in promoting the transition from savings to investment in the context of rising interest rates and the diminishing appeal of traditional bank deposits," the joint bookrunners said.
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