The cell phone unit of Japanese tech goliath Softbank had a frustrating presentation on the Tokyo securities exchange.

The firm raised as much as 2.6 trillion yen ($23bn; £18bn) by moving offers at 1,500 yen each in one of the world’s biggest ever stock contributions.

In any case, by the end of exchange Tokyo, shares were down 14.5% from the value set for its first sale of stock.

Experts said the disillusioning presentation was not by any means sudden.

“Softbank wasn’t as well known a [initial open offering] as the market had expected,” Singapore-based market master David Kuo told the BBC.

“It was oversubscribed, however not as much as trusted.”


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