Japan's SBI Sumishin Net Bank to postpone planned IPO -source

Sumitomo Mitsui Trust

06/03/2022 23:34

TOKYO, March 7 (Reuters) - Japan's SBI Sumishin Net Bank Ltd
 7163.T  has decided to postpone an initial public offering
(IPO) that had been planned on March 24 due to bearish sentiment
stemming from the war in Ukraine, a person with knowledge of the
matter said on Monday.
    SBI Sumishin Net Bank, equally owned by SBI Holdings Inc
 8473.T  and Sumitomo Mitsui Trust Bank  8309.T , would have
been the first online bank to go public in Japan.
    SBI Sumishin is set to announce the postponement as early as
Monday, the source said, declining to be identified because the
decision is not public. 
    The bank declined to comment on the postponement, which was
first reported by the Nikkei business daily on Sunday.

 (Reporting by Miho Uranaka
Editing by Chang-Ran Kim)
 ((Makiko.Yamazaki@thomsonreuters.com; +81-3-4563-2805))