Market Chatter: Tokyo Metro IPO to Raise 348.6 Billion Yen

MT Newswires Live10-15 08:36

Tokyo Metro (TYO:9023) is expected to raise 348.6 billion yen in its initial public offering, pricing shares at 1,200 yen each, the top of its marketed range, according to Bloomberg News on Monday, citing sources.

This marks Japan's largest listing in six years, following SoftBank's 2018 IPO, according to the news wire.

Tokyo Metro plans to list shares in Tokyo on Oct. 23 and the listing could boost Japan's total IPO proceeds for 2024 towards the $4.4 billion raised in 2023, added the report.

Tokyo Metro did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (JPY): $2664.90, Change: $-0.70, Percent Change: -0.03%

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