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Tokyo Metro Raises $2.3 Billion at 1,200 Yen per Share in Japan's Largest IPO in Six Years, Listing on October 23

Oct 15, 2024, 05:56 AM

Tokyo Metro has successfully raised $2.3 billion in its initial public offering (IPO), marking the largest IPO in Japan in six years. The company priced its shares at 1,200 yen each, at the top of the marketed range, and plans to list its shares in Tokyo on October 23, 2024. This IPO is part of a broader trend, as bankers are currently working on over $6 billion worth of IPOs in Japan and India, driven by a decline in Chinese listings. The Nasdaq is also targeting Japanese IPOs as it anticipates young entrepreneurs from Japan to seek opportunities in the U.S. market.