What Banking Crisis? Shares of Japan's Largest Internet Bank Are Flying
million in an initial public offering Rakuten Bank, Japan's largest internet bank, raised $627 million in an initial public offering on Friday. The bank is controlled by one of Japan's biggest e-commerce companies.
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Rakuten Bank, Japan's largest online bank, saw its shares jump by this amount on their first trading day.
The largest public offering in Japan since 2018 was raised by the bank controlled by the largest e-commerce company in Japan. It raised $627 billion through its IPO.
Columnist
Jacky Wong
Rakuten Bank says its explosive debut was justified by rapid growth and a high return on equity. Deposits at the bank, for example, have tripled over the last four years and now amount to $67 billion.
Rakuten Group Inc.
JP:4755 (Japan: Tokyo)