Business & FinanceEconomy
19 August 2024, 8:25 pm 1 minute
Reuters exclusively reported that Japan’s national and Tokyo governments are seeking a 700 billion yen ($4.7 billion) valuation for Tokyo Metro as they prepare to list the subway operator as early as October-end, in what would be the nation’s biggest IPO in roughly six years. The two governments, which own 100% of Tokyo Metro, plan to arrange a meeting of brokerages within a week for a briefing on the IPO and expect to receive approval for the listing from the Tokyo Stock Exchange as soon as mid-September, the sources said.
Market Impact
With half the company to be sold, the initial public offering could raise 350 billion yen at that valuation, which would exceed the size of Kokusai Electric’s IPO last year and become the largest since SoftBank Group listed its wireless unit in 2018.
Article Tags
Topics of Interest: Business & FinanceEconomy
Type: Reuters Best
Sectors: Business & FinanceEconomy & Policy
Regions: Asia
Countries: Japan
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story