TOKYO -- The CEO of SoftBank Group's Japanese mobile unit on Wednesday acknowledged the "challenging conditions" facing the company after its shares fell nearly 15% on their first day of trading, leaving retail investors nursing losses.
Japanese investors flocked to buy into the world's largest IPO this year and the second biggest in history, which raised 2.6 trillion yen ($23 billion) for the group. Roughly 90% of the shares were allocated to domestic investors, the majority of which were sold to individuals.
