Capital markets week ahead: SoftBank, Tencent Music, TLTRO

摘要

A PLACE IN THE SON SoftBank prices the eagerly awaited IPO of its mobile phone business on Monday, which at ￥2.4trn (US$21bn) is set to go down as Japan's biggest ever listing, displacing NTT DoCoMo, which has held the record for the past 20 years. The behemoth, which was founded in the early 1980s by founder Masayoshi Son, is coming out of what was once its main business as it focuses on new technologies. Still, bankers on the deal have had their work cut out, having to deal with a global equity market sell-off and a collapse in the SoftBank mobile network. Still, by late last week the institutional portion of the deal was well covered. But it's in the retail market where most of the shares are being sold, on Monday it will become clear whether the Mrs Watanabes of this world have backed the deal in sufficient numbers.