In a significant move in Japanese financial markets, Tokyo Metro has priced its initial public offering (IPO) at 1,200 yen per share, the high end of the planned range of 1,100 to 1,200 yen. The move is expected to raise 348.6 billion yen, or about $2.33 billion, making it the country’s largest IPO in six years.
The company, which operates a major subway network in Tokyo, is expected to make a formal announcement regarding the price later today. The IPO is scheduled for October 23, 2024 on the Tokyo Stock Exchange.
Sources, who requested anonymity due to the sensitivity of the information, confirmed these details. Tokyo Metro declined to comment on the IPO price. With the current exchange rate of 149.7900 yen per US dollar, the size of the IPO highlights the significant valuation of Tokyo Metro and the interest it has generated among investors.
This public offering is a notable event for investors and market observers, as it reflects the company’s growth prospects and the overall health of Japanese equity markets. The Tokyo Metro IPO is expected to attract attention from domestic and international investors seeking exposure to the Japanese transportation sector.
Reuters contributed to this article.
This article was generated and translated with the help of AI and reviewed by an editor. For more information, see our T&Cs.
Related News :