SBI raised $207m after issuing 20,000,000 HDRs at an issue price of $10.35 per unit, which includes the over allotment option exercised by the underwriters.
With the development of its domestic Japan business largely complete, SBI will use the capital raised to expand its operations internationally, with a specific focus on high growth markets in Asia.
JP Morgan Asia Pacific head of depositary receipts group Kenneth Tse said they delighted that SBI provided them with an opportunity to yet again showcase their HDR expertise, and they congratulate the team at SBI for completing the first HDR listing from an Asian company.
JP Morgan has now acted as depositary bank for both HDR listings in Hong Kong, with the SBI partnership following Vale’s listing by introduction in December 2010.
