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Softbank’s stock price fell more than 10% on the first day of listing

Japan Telecom's mobile banking company's mobile communications banking company's stock market fell more than 10% on the first day of the day, mainly due to recent national service disruptions and the relationship with Huawei's technology.

Softbank's initial public offering (IPO) raised $23.5 billion, but on the first day of the Tokyo stock market trading, the stock price fell below the underwriting price of 1,500 yen in 5 minutes, falling to 1344 yen, a drop of more than 10%. The index of the Dongzheng Index fell by 1%.

Softbank's IPO scale is less than the $25 billion record created by China's e-commerce giant Alibaba in 2014. Alibaba is one of the companies invested by the Softbank Group.

In terms of the number of users, Softbank is the third largest mobile communication company in Japan, and recently there has been a rare national disconnection problem. Softbank said that the suspension will not impact the company's profits and dividends.

What worries market investors is the relationship between Softbank and China's Huawei Technologies. At present, many countries have blocked Huawei because of worry that Huawei's telecommunications equipment may become an accomplice to Chinese espionage activities.

According to sources, Softbank has decided to replace Huawei's 4G network equipment with hardware devices from other vendors. This process is likely to be time-consuming and costly. Among Japanese telecom companies, Softbank and Huawei are the most closely related.