Rakuten shares climb 2% on bank unit listing progress

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TOKYO : Shares in Japan’s Rakuten Group Inc climbed 2.4 per cent on Tuesday, a day after the e-commerce firm said it has applied to list its online banking unit on the Tokyo Stock Exchange.

Rakuten announced plans for an initial public listing last September as it grapples with the cost of building a mobile network. Its shares last month hit their lowest level in more than a decade.

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