Shares of SoftBank Corp., the mobile subsidiary of Japanese conglomerate SoftBank Group Corp. (SFTBF.PK), fell more than 14 percent in their trading debut Wednesday on the Tokyo Stock Exchange. The company's initial public offering or IPO is the largest in Japan and the second-largest in the world.
The shares opened at 1,463 yen before falling to end the day at 1,282 yen, down 14.5 percent from its offering price of 1,500 yen. The closing stock price gave the company a market capitalization of 6.14 trillion yen.
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