SoftBank Suffers Rare Japan Debut Drop After Record IPO

SoftBank Suffers Rare Japan Debut Drop After Record IPO

SoftBank Corp shares slumped more than 10 percent on debut, as investor appetite for Japan’s biggest ever IPO was hurt by a recent service outage at the telecoms operator and worries over its exposure to Chinese telecoms gear maker Huawei.

The poor start for the unit of investment giant SoftBank Group Corp was uncommon in the Japanese IPO market. Of 82 IPOs so far this year, SoftBank was only the seventh to open below the IPO price. Among recent major IPOs, Japan Display was the only one to flop, suffering a fall in its 2014 debut.

“Retail investors are dumping shares after seeing the opening below IPO price, also affected by a service outage,” a market analyst at a brokerage said, declining to be named because he was not authorised to talk to the media.

“But I don’t expect the shares will fall much further given their dividend yield and expectations for being included in stock indexes,” he said.

Following its $23.5 billion initial public offering, shares of SoftBank Corp fell as far as JPY 1,344 five minutes into trade, or 10.4 percent lower than its IPO price of JPY1,500. The broader Tokyo market was up 0.1 percent.

SoftBank Corp shares were most heavily traded on the Tokyo Stock Exchange’s first section, accounting for about a third of the total turnover volume.

At 10:48 a.m. (0148 GMT), the shares were at JPY 1,384, after opening at JPY 1,463. SoftBank Group was up 0.5 percent.

SoftBank Corp CEO Ken Miyauchi will hold a news conference at 0630 GMT.

The IPO was just shy of the world record $25 billion 2014 listing of Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.

During the IPO period, Japan’s third-largest mobile phone network provider by subscriber numbers suffered a rare nationwide service outage, which it said would not affect earnings or dividends.

Adding to investor worries, SoftBank Corp’s relationship with Huawei Technologies Co came under scrutiny as governments around the world moved to shut out the Chinese firm amid worries its gear could facilitate Chinese spying.

SoftBank Corp, which has the most exposure to Huawei among Japanese telecoms firms, plans to replace Huawei-provided 4G network equipment with other suppliers’ hardware, two sources said, in a process likely to be time-consuming and expensive.

IPOs are popular among Japanese retail investors, many of whom see them as sure profit bets given their tendency to open much higher than offering prices.

In SoftBank Corp’s case, an added attraction was its promise of a dividend payout of 85 percent, much higher than those of rivals NTT DoCoMo and KDDI Corp.

The IPO attracted about twice as many retail orders as the number of shares offered, sources at lead underwriters said last week. A smaller portion of shares offered to overseas intuitional investors was three times oversubscribed.

[“source=cnbc”]

Telangana tech colleges can also drop some guides

Colleges submit a letter to AICTE, which asks for a NoC from JNTU.  (Representational image)

Hyderabad: Electronics and Instrumentation, business production, Metallurgy, Chemical Engineering, Bio-scientific, Bio-technology and Aeronautical Engineering are a number of the courses that 78 non-publicengineering colleges are not inclined to retain in the next educational 12 months.

scholar intake isn’t as favored for those courses and it’s far proving to be a burden for collegemanagements to meet fees regarding faculty and team of workers wages, infrastructure and laboratoriesand so on.

according to Mr N. Goutham Rao, the president of Telangana personal Engineering and professionalcolleges Managements association, establishments will haven’t any alternative but to forestall newconsumption of college students for publications dropping their sheen.

“Even middle guides like Mechanical and Civil are not getting filled in few of the non-public schools. Filling seats in top private schools is not a trouble. but the situation is entirely one of a kind within the rest ofthe colleges that have been newly hooked up,” he said.

but, there may be no trouble for students who are presently pursuing such guides in those faculties.second, third and very last12 months college students can be allowed to finish their courses, howeverno new admissions can be accomplished.

almost 3500 UG seats and 1600 PG seats could be eliminated from the general quota of seat vacancies as a way to be listed earlier than counselling commences in June. that is a ordinary system each year, saidJNTU officials. colleges submit a letter to AICTE, which asks for a NoC from JNTU. once the certificate is given, AICTE finalises the choice to lessen seats, they said.

WhatsApp to Drop Support for BlackBerry, Nokia, More Devices by 2016-End

WhatsApp to Drop Support for BlackBerry, Nokia, More Devices by 2016-End

WhatsApp Messenger, the widely used Facebook-owned instant messaging application, will drop support for several mobile operating systems from 2017, including some outdated offerings. The biggest of these is BlackBerry 10 OS, along with support for all other BlackBerry operating systems. Also on the list are Nokia’s Symbian S40 and Symbian S60 versions, and the dated Android 2.1 Eclair, Android 2.2 Froyo and Windows Phone 7.1 operating systems.

The WhatsApp blog post announcing the decision said that the company will be ending support from these mobile operating systems by the end of this year. The company said that when it launched WhatsApp back in 2009, the market was very different. Android and iOS only ran on less than 25 percent of the devices, while BlackBerry and Nokia’s operating systems dominated the market with roughly a 70 percent share. Dropping support is a bleak reminder of the change in the two companies’ fortunes.

Pointing to the specific problem with the soon to be demoted operating systems, WhatsApp said, “While these mobile devices have been an important part of our story, they don’t offer the kind of capabilities we need to expand our app’s features in the future.”

“This was a tough decision for us to make, but the right one in order to give people better ways to keep in touch with friends, family, and loved ones using WhatsApp. If you use one of these affected mobile devices, we recommend upgrading to a newer Android, iPhone, or Windows Phone before the end of 2016 to continue using WhatsApp,” the blog post added.

As for BlackBerry users, arguably the most shocked of the affected user base, the news should actually not come as a too much of a surprise. BlackBerry itself indicated that it is happy with the BlackBerry Priv’s performance, and hinted at a mid-range Android phone this year. Chen had however back in January reassured BlackBerry 10 users that the OS was not dead, and it had plans for a version 10.3.4 release for later in the year with “even more security improvements”.

Microsoft itself has ended support for Windows Phone 7.1. Android 2.2 Froyo as per the latest distribution data is running on 0.1 percent of all the active Android devices worldwide (which access Google Play). The Android 2.1 Eclair version is nowhere on Google’s own distribution list.

WhatsApp last week turned seven years old. In a blog post the company said it has also hit the 1 billion active user mark. “That’s nearly one in seven people on Earth who use WhatsApp each month to stay in touch with their loved ones, their friends and their family,” it said.

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Tags: Android, Apps, BlackBerry, Google, Microsoft, Nokia, Social, WhatsApp, WhatsApp App, WhatsApp Messenger,Windows Phone
[“source-Gadgets”]