SoftBank Unit Shares Open Below IPO Price—Then Drop 8%

TOKYO—SoftBank Group Corp.’s Japanese mobile-phone unit made one of the country’s worst debuts after its nearly $24 billion initial public offering as investors worried about a price war and the company’s reliance on Chinese supplier Huawei Technologies Co.

Shares closed nearly 15% below the ¥1,500 initial offering price, finishing their first day of Tokyo Stock Exchange trading at ¥1,282 ($11.40)



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