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Softbank Corp. (9434.T) fell more than 10% on its first day of listing on Wednesday. The company's service disruption this month and its links with Huawei, a Chinese telecom equipment maker, have raised concerns and hurt investors'buying interest. Softbank has the largest IPO in Japan.
Softbank is a subsidiary of the investment giant Softbank Group (9984.T). Its bad start is very rare in Japan's IPO market. So far this year, 82 companies have gone public, including only seven Softbank companies, which fell below the offering price on the first day of listing. Among the most recent large IPOs, only Japanese Display (6740.T) fell on its first day of listing in 2014.
"After seeing the opening price fall below the IPO offering price, retail selling and service disruption also have an impact," said a market analyst at a broker. He did not want to be named because he was not authorized to speak to the media.
"But considering its dividend yield and the expectation that it will be included in the main stock index, I don't think there is much room for the stock to fall further," he said.
Softbank's initial public offering (IPO) raised $23.5 billion and fell to 1,344 yen within five minutes of opening, 10.4% lower than the IPO price of 1,500 yen. TOPX rose 0.1%.
Softbank is one of the largest trading stocks on the Tokyo Stock Exchange (TSE), accounting for about one third of the total turnover.


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