SOFTBANK
Japanese teleco SoftBank Corp, not to be confused with its parent SoftBank Group, comes in third on the list.
When SoftBank Corp listed on the Tokyo Stock Exchange in December 2018, it raised about ¥2.65 trillion (US$21.3 billion), making it one of the largest IPOs ever.
Shares were priced at ¥1,500 each, valuing the company at roughly ¥7.2 trillion, or about US$64 billion.
But SoftBank Corp’s IPO got off to a shaky start.
Just days before the listing, the company suffered a nationwide network outage. Investors were also grappling with concerns about increased competition in the country’s telecoms sector.
SoftBank Corp shares opened at ¥1,463, already below the IPO price, and ended the day at ¥1,282 – a drop of about 14.5 per cent.
The sell-off wiped roughly ¥1.1 trillion off the company’s valuation, leaving it with a market capitalisation of about ¥6.1 trillion by the closing bell.
Still, the listing has proved more resilient over the long run than its rocky debut suggested.
SoftBank Corp shares closed at ¥212 on Jun 9, although direct comparisons with its IPO price are complicated by stock splits carried out since the company went public.