SoftBank is planning to sell securities that are like bonds but are actually shares, betting that yield-hungry investors will flock to Japan’s first public offering of the unusual equities.

The telecommunications unit of billionaire Masayoshi Son’s holding company is targeting ¥120 billion ($808 million) in sales of the so-called bond-type class shares that will be listed on the Tokyo Stock Exchange, according to the statement filed to the financial authority.

SoftBank tentatively offered a dividend rate from 2.5% to 3% for the first five years, after which the company has the right to repurchase them at an amount equal to the issue price, according to the statement. That means the securities are similar to callable bonds. Unlike most shares they don’t give holders voting rights, and they also can’t be converted to common stock. Bloomberg reported earlier Monday that the company was planning a class share deal.