Initial Public Offering of Vector Inc.
Vector Inc., a subsidiary of SOFTBANK CORP., was listed today on the Nasdaq Japan Market (stock code: 2656). While the IPO price was 1.2 million yen per share, Vector ended its first day on the market at a bid price of 2.4 million yen per share with no trades completed. The market capitalization of the company calculated on the basis of the bid price at today’s close was approximately 55 billion yen.
At the time of its listing, Vector Inc. issued 1,000 new shares, bringing the total number of outstanding shares to 22,900. As a result, the effective equity share * of SOFTBANK CORP. in Vector Inc. currently stands at 51.24%. The effective value of SOFTBANK CORP.’s initial investment in Vector Inc. was 1.185 billion yen, whereas the current value of this investment, calculated on the basis of the bid price at today’s closing, amounts to approximately 28.2 billion yen.
Equity positions in Vector Inc. are as follows: SOFTBANK E-COMMERCE CORP. (main office in Chuo-ku, Tokyo; Ken Miyauchi, president & CEO), a business controlling company and wholly owned subsidiary of SOFTBANK CORP., owns 44.54%; Yahoo Corp. (main office in Minato-ku, Tokyo; Masahiro Inoue, president & CEO), a subsidiary of SOFTBANK CORP. in which SOFTBANK CORP. holds a 51.17% share (as of July 31, 2000), owns 13.10%.
Outline of Vector Inc.
| 1. Company name | Vector Inc. (Japanese name: Kabushiki Kaisha Vector) |
|---|---|
| 2. Address | 5-17-12 Toyotama-kita, Nerima-ku, Tokyo |
| 3. Date established | February 1989 |
| 4. Capital | 975.75 million yen |
| 5. President & CEO | Nobuhiro Kajinami |
| 6. Business | Vector is engaged in the operation of dedicated Internet sites for the downloading of software for personal computers; site advertising; the operation and consignment of servers; and other areas. |
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