SoftBank shares rise above 4% over listing reports

Shares in Japan’s SoftBank Group rose above 4% on Monday after the company said listing its mobile unit is one of its various capital strategy options. The confirmation came after Nikkei economic daily said the listing could bring in two trillion yen ($18 billion). SoftBank may apply to the Tokyo Stock Exchange in spring and begin trading on the bourse around autumn, offering around 30% of the shares in its subsidiary up to investors. It may also make an overseas debut in London, Nikkei said. In 2016, SoftBank Group set up $100 billion Vision Fund along with Saudi Arabia and other investors. In December, SoftBank announced a $7.7 billion deal acquiring 15% of ridesharing company Uber.