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Tokyo Metro looks to raise up to $2.4 bln in largest Japan IPO since 2018
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Tokyo Metro looks to raise up to $2.4 bln in largest Japan IPO since 2018
Oct 6, 2024 11:48 PM

TOKYO, Oct 7 (Reuters) - Tokyo Metro has set a price

range for an initial public at 1,100 to 1,200 yen per share,

against an initial estimate of 1,100 yen, a regulatory filing

showed on Monday.

At the top of the range, Tokyo Metro, one of two subway

operators in Japan's capital, would raise 349 billion yen ($2.35

billion) in the largest IPO in Japan for six years.

The final IPO price for the subway operator, which is owned

by the Tokyo and national governments, will be decided on Oct.

15 before a Tokyo Stock Exchange listing on Oct. 23.

Elsewhere in Japanese IPOs, Rigaku, a maker of X-ray testing

tools backed by buyout firm Carlyle Group ( CG ), plans to list

this month.

Bain Capital-backed chipmaker Kioxia has scrapped its plan

for an IPO in October, Reuters reported last month.

Tokyo Metro's history dates back to 1920 with the

establishment of the Tokyo Underground Railway Company.

Seven years later, it opened Japan's first subway line,

between the Asakusa and Ueno districts of Tokyo.

($1 = 148.4200 yen)

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