SoftBank mobile services disrupted ahead of bumper IPO\, shares drop

SoftBank mobile services disrupted ahead of bumper IPO, shares drop

Reuters  |  TOKYO 

(Reuters) - Corp's were disrupted in some parts of on Thursday, ahead of an (IPO) of its domestic telecoms unit later this month that will potentially raise $21 billion.

Shares of the group fell as much as 6 percent after the news, pressured also by a broader sell off in stocks following the arrest of a at The two companies have partnered on 5G trials.

A SoftBank said connection problems started around 1:39 p.m. (0439 GMT). Other details, including when full service will be restored, are not yet known, she added.

Strong saw last week forgo a price range for the bumper IPO of its domestic telco, SoftBank Corp, setting a single indicative rate of 1,500 yen ($13.30).

SoftBank will set a final offering price on Dec. 10 with shares set to begin trading on Dec. 19.

Shares of the group closed down 5 percent on Thursday, in a broader market that skidded to a two-week low after arrested Huawei's at the request of the United States, threatening a new spike in Sino-U.S. tensions.

($1 = 112.8200 yen)

(Reporting by Chang-Ran Kim and Sam Nussey; Editing by Himani Sarkar)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 12:37 IST