Tokyo Metro Shares Surge 36%, Up to 40%, on Debut After Japan's Largest IPO Since 2018

Oct 22, 2024, 10:01 PM

Tokyo Metro Co., which operates one of the world's largest subway systems, has made its trading debut in Japan's largest initial public offering (IPO) since 2018. The IPO has garnered significant interest, with retail investors showing strong demand. The offering was oversubscribed more than 15 times, and foreign investors sought over 35 times the shares available to them. The IPO price was set at 1,200 yen per share. On its first day of trading, Tokyo Metro shares soared 36%, with some reports indicating gains over 40%, indicating a strong market response. The IPO's success is seen as a test of the bullish sentiment in the Japanese stock market.