In a groundbreaking move, SoftBank Corp., the telecommunications unit of SoftBank Group Corp., has revealed its plan to issue bond-type class shares worth approximately ¥120 billion (roughly $800 million).

This offering features an annual dividend rate of 2.5%, aligning with the lower end of the marketing range. The decision comes in response to robust demand from a diverse array of investors, including both individual and institutional players, according to sources familiar with the matter.

The offering marks a significant milestone, representing the first of its kind for such shares within the Japanese market.

As of October 11, demand for the shares has exceeded a remarkable 90% of the initially planned offering amount, indicating substantial interest from investors.

The telecommunications giant intends to further boost the offering by increasing the allocation dedicated to institutional investors.

The final terms for this innovative offering are set to be determined as early as October 13, promising an exciting development in the financial landscape of Japan.

Notably, this groundbreaking offering is being meticulously managed and facilitated by renowned financial institutions, including Nomura Securities Co., Daiwa Securities Co., and Mizuho Securities Co.

Specifically, Nomura is responsible for selling shares valued at ¥100 billion, Mizuho Securities at ¥12 billion, and Daiwa Securities at ¥8 billion.

Despite the overwhelming interest and positive reception, a spokesperson from SoftBank refrained from providing any comment on the specifics related to the demand or the pricing strategies for the offering.

This move is seen as a strategic effort to keep investors, and the market intrigued as the anticipation for this groundbreaking offering builds.

To appeal to a broader audience and enhance engagement, SoftBank has implemented a strategic approach to attract retail investors.

The company has creatively utilized its mobile mascot character dog, incorporating it into information leaflets for the class shares, aiming to connect with potential investors uniquely and engagingly.

The SoftBank Corp.’s bond-type class shares offering is an exciting development in the financial landscape, signaling the company’s innovative strategies to engage a diverse investor base and redefine investment opportunities within Japan.

Investors and market enthusiasts closely watch this historic offering, eagerly anticipating its final terms and impact on the investment landscape.