SoftBank raises alert on fraudster targeting its IPO


Japan’s SoftBank Group has raised alerts on fraudsters targeting its initial public offering to defraud unsuspecting members of the public.

It would be recalled that SoftBank Group Corp will be launching its initial public offering where it plans to raise up to $21 billion from the public for its mobile unit.

SoftBank is a Japanese multinational holding conglomerate headquartered in Tokyo, Japan. The company wholly owns Softbank Corp., Softbank Vision Fund, Arm Holdings, Fortress Investment Group and Boston Dynamics.

The company said it will sell up to a third of its stake in its local mobile unit.

Softbank said in the disclosure that about 90% of the shares will be offered domestically.

On the latest scam alert, SoftBank said that:

“Certain phishing websites purporting to be connected to the listing of the shares of the common stock of SoftBank Corp. have come to our attention.

Neither SoftBank Group Corp. nor SoftBank Corp. is offering or soliciting offers to purchase shares of the common stock of SoftBank Corp. SoftBank Group Corp. and SoftBank Corp. are in no way connected to these websites. Should you come across “phishing” websites purporting to be connected to SoftBank Corp.’s listing, please do not enter personal information such as your name or e-mail address.

This notice does not constitute an offer of securities in the United States. The SoftBank Corp. shares referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration thereunder or an applicable exemption from registration requirements.”

See below the example of one of the phishing websites:

Example of “phishing website”

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