TOKYO -- Japan's Rakuten Bank will make an initial public offering on the Tokyo Stock Exchange on April 21, in a sale expected to give it a market capitalization of up to 333.2 billion yen ($2.52 billion) based on the estimated price range.
Billionaire Hiroshi Mikitani's Rakuten Group plans to sell 53.95 million of its shares in the online bank at listing, more than 30% of its holdings, fetching up to 105.7 billion yen. Rakuten Bank will issue 5.55 million new shares.
