Tokyo Metro's stellar IPO
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A stellar IPO on the Tokyo stock exchange, the largest in the last six years: this is what marked the stock market debut, today, Wednesday 23 October, of Tokyo Metro, the operator of subway stations among the most important in Japan and the main one in the capital.
Tokyo Metro shares made their debut at the placement price of 1,200 yen, set at the top of the range between 1,100 and 1,200 yen: a flurry of buys on the stocks, which closed with a 45% rally on the Tokyo Stock Exchange. The fever for the IPO exploded immediately, to the point that, according to what was reported by Reuters based on information received from some sources, the requests for subscriptions were more than 15 times higher than the offer, with investors who did not think twice about catapulting themselves into Tokyo Metro shares, attracted by the company's name and attractive dividend yield.
Tokyo Metro's stellar IPO
The placement was launched with the decision of the two main shareholders (the State, with a share equal to 53.4% and the metropolitan city of Tokyo, with 46.6% in hand) to place half of the shares held on the market. With the IPO, Tokyo Metro raised 348.6 billion yen, the equivalent of 2.3 billion dollars.The placement price of the stock on which the buys exploded
Tokyo Metro shares made their debut at the placement price of 1,200 yen, set at the top of the range between 1,100 and 1,200 yen: a flurry of buys on the stocks, which closed with a 45% rally on the Tokyo Stock Exchange. The fever for the IPO exploded immediately, to the point that, according to what was reported by Reuters based on information received from some sources, the requests for subscriptions were more than 15 times higher than the offer, with investors who did not think twice about catapulting themselves into Tokyo Metro shares, attracted by the company's name and attractive dividend yield.