In today’s briefing:
- SBI Sumishin Net Bank IPO: Bricks ‘n’ Clicks
SBI Sumishin Net Bank IPO: Bricks ‘n’ Clicks
- SBI Sumishin Net Bank (7163 JP) aims to be the first listed Japanese online bank. It is looking to raise about $1 billion. The listing is set for 24 March.
- Founded in 2007, SBI Sumishin Net Bank is owned 50% by SBI Holdings (8473 JP) and 50% by Sumitomo Mitsui Trust Holdings (8309 JP).
- On balance, the fundamentals look sound. The IPO is worth a look for investors willing to brave the weak IPO market conditions.
Before it’s here, it’s on Smartkarma
