SoftBank-backed SB Energy aims to raise 500 million from Japan for U.S. IPO

SoftBank-backed SB Energy aims to raise $500 million from Japan for U.S. IPO The proceeds from SB Energy's public listing in Japan will be used to develop and build data centers and power plants. SB Energy, a data center firm backed by SoftBank Group, is aiming to raise as much as $500 million in the Japanese portion of its planned initial public offering (IPO) in the U.S., following other major deals tapping the country's deep pools of capital. The company will start taking investor orders as soon as this month, according to a local regulatory filing Tuesday. The proceeds will be used for developing and constructing infrastructure including data centers and power plants. SB Energy, whose strategic investors include OpenAI and Nvidia, filed for an IPO in the U.S. this month. Mizuho Financial Group, Daiwa Securities Group, PayPay Securities, Rakuten Securities and SBI Holdings will act as the selling agents for Mizuho's U.S. arm, according to the filing.