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Brokerages scramble on tepid investor response over SoftBank IPO

Share subscriptions are alarmingly short of those for Mercari and Japan Post

SoftBank Group Chairman and CEO Masayoshi Son.   © Reuters

TOKYO -- Mobile carrier SoftBank Corp.'s initial public offering set for Dec. 19 is oversubscribed by less than double -- a level well below blockbuster Japanese stock debuts in recent memory that has left domestic brokerages reeling.

Investors' apparent lack of appetite stems from last week's massive service outage, as well as the drama surrounding Huawei Technologies, the Chinese telecommunications supplier with which SoftBank had done business. Making things worse, the parade of bad news arrived shortly before Friday's subscription deadline.

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