Mobile phone float for Japan's `Sids'
Friday 25 September 1998
Each share in the company, part of the giant telecoms group NTT, will cost a staggering pounds 18,000. But advisers to the offer are confident that Japan's "Takeshis" - the equivalent of Britain's Sids - will lap up the offer.
Of the 545,000 shares being sold, 45 per cent have been set aside for small Japanese investors, who have been starved of new equity offers as the Tokyo market has continued to dive.
The shares are being sold at a massive discount to tempt investors to take money out of their bank accounts and subscribe.
According to some estimates, they should rise from their indicative price range of Y3.3m to Y4.3m to between Y5m and Y6m once trading starts next month. This compares with current bank interest rates of between 0.2 and 0.3 per cent.
Shares in DoCoMo - the name stands for Do Communicate by Mobile - are being priced at less than half those in other cellular companies such as Vodafone to ensure strong demand.
NTT is selling a third of its shareholding and the offer will raise an estimated $15bn compared with the $13.3bn raised through the Deutsche Telecom float. UK and European investors are being offered 18 per cent of the shares and US investors 12 per cent.
Advisers are confident that investors will not be deterred by the parlous state of the Japanese markets or the whiff of scandal surrounding the flotation. It has emerged that the Japanese Prime Minister's brother in law holds shares in DoMoCo.
- 1 Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
- 2 A politically correct lefty goes to see Top Gear live – you'll probably believe what happened next
- 3 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 5 Snoop Dogg on why he doesn't regret displaying misogyny towards women
Cyclist who knocked down three-year-old girl says his life has been 'destroyed'
Woman accidentally shoots herself in the head while posing for a selfie
How China's richest man Li Hejun lost $15bn in an hour - and made a fortune
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Snoop Dogg on why he doesn't regret displaying misogyny towards women
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...