SoftBank wants to raise $21 billion in an IPO of its Japan mobile business

The Japanese company said Monday it plans to sell 2.4 trillion yen ($21 billion) worth of stock in its mobile telecoms unit. It would be the world's biggest IPO since Alibaba (BABA) went public in New York in 2014.

The listing is set to take place on the Tokyo Stock Exchange on December 19, SoftBank (SFTBY) said in a filing Monday.

The IPO is a key part of CEO Masa Son's efforts to reposition SoftBank as a global tech investor.

This is a developing story.

Junko Ogura contributed to this report.

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