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SoftBank charges ahead with investment as mobile IPO nears

Expected $22bn in proceeds to help CEO Son pursue AI

SoftBank Group CEO Masayoshi Son speaks during news conference in Tokyo on Oct. 4, 2018.   © Reuters

TOKYO -- The expected listing by SoftBank Group's mobile unit in the coming weeks will mark a critical step that frees the parent to focus on growth as an investment company amid CEO Masayoshi Son's push to develop AI operations around the world.

The Tokyo Stock Exchange is set to approve on Monday the initial public offering of SoftBank Corp. This will be one of Japan's biggest IPOs yet, with proceeds expected to reach around 2.5 trillion yen ($22 billion). The parent, which now owns virtually all of SoftBank Corp., will still hold a stake of 60% to 70%.

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