• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Tokyo Metro shares untraded on market debut

by October 23, 2024
written by October 23, 2024

TOKYO (Reuters) -Tokyo Metro saw its stock untraded on its Tokyo market debut on Wednesday with a glut of buy orders in early trade. 

Tokyo Metro, one of the capital’s two major subway operators, raised $2.3 billion after pricing its initial public offering at the top of an indicative range at 1,200 yen apiece. 

The IPO was more than 15 times oversubscribed, Reuters has reported, with investors drawn to a household name with an attractive dividend yield.

“The listing of a large company familiar to individual investors has a large merit in broadening the investor base,” Toshio Morita, CEO of the Japan Securities Dealers Association and former president of Nomura Securities, said last week.

Tokyo Metro forecasts a dividend of 40 yen per share for the financial year ending March 2025 and has appealed to investors with perks such as toppings at the noodle eateries it operates.

The IPO is the largest in Japan since SoftBank (TYO:9984) Group listed its telecoms unit in late 2018.

Rigaku Holdings, a maker of X-ray testing tools, raised $863 million in its IPO after pricing shares at the top of the range and will debut on Friday. 

There have been $4.9 billion worth of IPOs year to date in Japan, LSEG data shows, the largest amount in six years. 

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Frontier, Spirit Airlines revive merger talks, WSJ reports
next post
China’s exporters run for cover as US election nears

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • FAA will not require immediate 737 MAX engine action after bird strikes
    • IMF sees weak yen beneficial for Japan’s economy, urges gradual rate hikes

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy