Qatar Investment Authority and KKR will acquire stakes in SBI Shinsei Bank as it relists on the Tokyo Stock Exchange this month, reinforcing ties with long-term global institutions and private equity, Nikkei reported Tuesday.
Qatar's sovereign wealth fund is expected to allocate $200 million for a 2%-3% holding. KKR will invest up to 3 billion yen for a 0.2% stake, according to the report.
Other incoming investors include M&G Investments with $175 million, BlackRock buying 13 million shares and Norinchukin Bank committing up to 5 billion yen. SBI Holdings (TYO:8473) will sell part of its stake mainly to U.S. and European institutions, the report said.
The price band is 1,440-1,450 yen per share, with pricing on Dec. 8. A midpoint price implies a market capitalization of $8.3 billion, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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