Rakuten Group Inc. set the price for a public and private share sale at ¥566 per share, near the bottom of a discount range, according to a filing.
(Bloomberg) — Rakuten Group Inc. set the price for a public and private share sale at ¥566 per share, near the bottom of a discount range, according to a filing.
The Japanese online shopping mall offered 468.1 million shares at that price, raising about ¥230.4 billion ($1.7 billion) in the base offering. There is an option to increase the deal by another 61 million shares, according to terms of the deal obtained by Bloomberg news.
The final price represents a discount of 3.1% to Wednesday’s close of ¥584, near the bottom of a discount band announced last week that went from 3% to 5%. The funds would help the company redeem subordinated bonds and speed up investment in base stations needed for growth in Rakuten’s carrier business, it said on May 16.
In a parallel operation, the company will issue new shares worth about ¥42 billion to CyberAgent Inc. and Tokyu Corp., as well as to two asset management companies of billionaire founder Hiroshi Mikitani’s family — Mikitani Kosan Inc. and Spirit Inc.
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