SBI Shinsei Bank Said to Target ¥400 Billion in Tokyo IPO

SBI Shinsei Bank Ltd.’s initial public offering is aiming to sell as much as ¥400 billion ($2.6 billion) of shares in what could be one of the largest listings in Japan this year.

The deal would value the Japanese lender at around ¥1 trillion, said the people, who asked not to to be identified as the information was private.

A SBI Shinsei spokesperson declined to comment. Reuters reported the news earlier.

The initial share sale comes as the nation’s IPO market is getting closer to the last year’s total proceeds, which was the largest in six years. SBI Shinsei’s ...