SoftBank shares fall 10 percent vs IPO price in Tokyo market debut

SoftBank shares fall 10 percent vs IPO price in Tokyo market debut

TOKYO (Reuters) - SoftBank Corp <9434.T> shares slid in its market debut on Wednesday, as investor appetite was spoiled by a major service outage this month and worries over its exposure to Chinese telecom equipment maker Huawei Technologies Co [HWT.UL].

Following its $23.5 billion initial public offering, shares of the telecoms unit of SoftBank Group Corp <9984.T> fell as far as 1,344 yen five minutes into trade, or 10.4 percent lower than its IPO price of 1,500 yen. The broader Tokyo market <.TOPX> was down 0.4 percent.

At 9:15 a.m. (0015 GMT), the shares were at 1,395 yen, after opening at 1,463 yen.

(Reporting by Taiga Uranaka; Editing by Chang-Ran Kim)

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Updated Date: Dec 19, 2018 06:05:50 IST

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