Rakuten Bank shares surged 40 per cent in the company’s debut on Friday, marking Tokyo’s biggest initial public offering since the listing of SoftBank’s mobile unit in 2018.
The internet bank, which is Japan’s largest by number of customers and has been spun out of Rakuten, the country’s biggest ecommerce company, raised $625 million in an IPO after lowering its valuation ahead of the listing.
Bankers running the IPO at Daiwa Securities faced a range of challenges from investors, who questioned the valuation and ultimately forced Rakuten to trim its ambitions for the share sale, said people with direct knowledge of the situation.
您已阅读17%（635字），剩余83%（3149字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。