By Kosaku Narioka


SBI Sumishin Net Bank Ltd. said Tuesday that it plans to list its shares on the Tokyo Stock Exchange's Standard Market on March 29.

The joint venture between Sumitomo Mitsui Trust Bank Ltd. and SBI Holdings Inc. said that the two financial companies plan to sell 41.5 million existing shares both in Japan and overseas.

The two companies may sell an additional 6.2 million shares in Japan depending on demand, SBI Sumishin said. The company doesn't plan to issue new shares.

The offering could raise as much as 60.09 billion yen ($441.1 million) based on SBI Sumishin's current estimate for an offering price of Y1,260.

SBI Sumishin said the offering price will be determined on March 20.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

02-28-23 0248ET