TOKYO (Reuters) – SoftBank Corp <9434.T> shares fell as much as 8 percent early on Thursday but recovered almost all of its losses, following the telco’s 15 percent tumble on debut the previous day.
The unit of tech investment giant SoftBank Group Corp <9984.T> had raised 2.65 trillion yen (18.67 billion pounds) at 1,500 yen per share in Japan’s biggest ever IPO. The slide has inflicted big losses on the retail investors who had mostly bought into the household name.
SoftBank Corp shares fell to a low of 1,176 yen before recovering to 1,279 yen, down 0.2 percent. Parent SoftBank Group Corp’s shares were down 1.3 percent.
(Reporting by Sam Nussey; Editing by Muralikumar Anantharaman)