TOKYO -- Japan's SBI Sumishin Net Bank on Monday postponed its initial public offering on the Tokyo Stock Exchange, derailing one of the country's biggest listings this year as investors remain on the sidelines due to the Russian invasion of Ukraine.
SBI Sumishin, which managed 5.1 million bank accounts as of December, was slated to go public on March 24 with book building scheduled to start on Tuesday. The bank was planning to offer new shares and those held by existing shareholders at an indicative price of 1,920 yen ($16) each, giving it a market capitalization of about 300 billion yen.
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