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Capital

SoftBank-backed OfBusiness weighs $800 million IPO, may file draft papers by November

SoftBank-backed OfBusiness is weighing an initial public offering that could raise up to $800 million and may file draft papers by November, Bloomberg reported. The company is working with four banks on the potential offer, which may include up to $200 million in fresh shares with the balance sold by existing investors, according to the report. OFB Tech, which operates as OfBusiness, is considering reviving its IPO plans after earlier attempts. The draft prospectus is aimed for November, the report said.
Sources
Moneycontrol
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Moneycontrol and reviewed by the T&B editorial agent team.
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