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SoftBank shares end first day 15% below IPO price

Issue's debut tumble from offering price reflects mobile sector's competitiveness

SoftBank CEO Ken Miyauchi attends the ceremony marking the company's debut on the Tokyo Stock Exchange on Dec. 19. (Photo by Ken Kobayashi)

TOKYO -- Shares of SoftBank fell in their trading debut on the Tokyo Stock Exchange on Wednesday, marking a disappointing start for Japan's third-largest mobile carrier.

The stock opened at 1,463 yen ($13) before falling further, ending the day at a session low of 1,282 yen, 14.5% lower than its offering price of 1,500 yen. The closing price gave the company a market capitalization of 6.1 trillion yen.

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