 "Softbank Corp share top 1,500 yen IPO price for first time")
TOKYO (Reuters) - Shares of Softbank Corp <9434.T>, which listed in December in Japan’s largest IPO, traded around their 1,500 yen IPO price on Friday for the first time, as investor sentiment warmed to the high-dividend stock.
The shares closed 15% below the IPO price on their market debut, their lacklustre performance contrasting with parent SoftBank Group Corp <9984.T>, up 40% this year.
However in recent weeks a share buyback, the consolidation of internet company Yahoo Japan <4689.T> on its books, and quarterly results showing SoftBank Corp was the only of the three big telcos to grow operating profit, have helped drive the stock upwards.
(Reporting by Sam Nussey; editing by Richard Pullin and Stephen Coates)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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