Salivating and lining up for market ...More good news from our favorite Son ...
To save you the trouble of taking out the calculator, the last number of 100 billion yen in client is US$ 952 million. Um, let assume 0.5 turn of account per year at 2% commission, that would be 9.4 million US in commission, at a revenue multiple of, oh, say 65, gives a market cap of 615 million (per that Lehman Report so long ago). 11 million original investment from 9984 (58%) could be at 356 million, a 32 multiple on investment, beating 9984 average of 14. Speed up the client's portfolio turn by 100% via Japan Nasdaq (buying other 9984 investee companies?) would result in ... can it be true? Son has nothing much left to learn from the best of VCs.
Softbank says to list three Japan units in 2000
TOKYO, Nov 9 (Reuters) - Leading Japanese internet investor Softbank
Corp said on
Tuesday that three of its finance units, including online brokerage
E*Trade Japan, will go
public next year.
E*Trade will go public in the third quarter of calender 2000, with
Nomura Securities Co
serving as lead manager, Softbank's vice president Yoshitaka Kitao told
a seminar.
Shares in investment information service company Morningstar Japan will
be listed in the
second quarter of 2000, lead-managed by Daiwa Securities.
Venture-capital firm Softbank Investment will float its shares in the
fourth quarter of 2000, lead-managed by Nomura
Securities, Kitao said.
Kitao said E*Trade Japan will not charge commission fees during the
month of its initial public offering, in order to
commemorate the listing.
Funds raised through E*Trade Japan's listing will be used to develop
systems and promote the company's brand name, Kitao
said.
E*Trade Japan, which launched an Internet-based brokerage service in
Japan on October 1, has a total of 100 billion yen in
client accounts, Kitao said. |
