Tokyo Metro set to raise $2.3 bln in Japan’s biggest IPO in 6 years, Reuters reports

Tokyo Metro set to raise .3 bln in Japan’s biggest IPO in 6 years, Reuters reports


Tokyo Metro’s logo is pictured at Kasumigaseki station in Tokyo, Japan, Aug. 15, 2024.

Miho Uranaka | Reuters

Tokyo Metro is expected to raise 348.6 billion yen ($2.3 billion) after pricing its initial public offering at the top end of its range, according to two sources familiar with the matter, in the largest IPO in Japan for six years.

The company has priced the shares at 1,200 yen apiece, compared to a range of 1,100 to 1,200 yen, said the sources, who declined to be named as the information is not public.

Tokyo Metro declined to comment.

Abe's corporate governance reforms from 10 years ago are 'bearing fruit': Strategist

One of Tokyo’s two major subway operators, the company is set to announce the pricing later on Tuesday and list on the Tokyo Stock Exchange on Oct. 23.

The price gives Tokyo Metro a dividend yield of 3.3% based on its forecast dividend of 40 yen per share for the financial year ending March 2025.

“That stands out compared to other private and JR railways,” said Kazumi Tanaka, an analyst at DZH Financial Research.

“In addition to the stability of the railway business, we can expect growth from increased inbound traffic,” he added.

The central government, which owns 53.4% of Tokyo Metro, and the Tokyo government, which holds the remaining 46.6%, are selling half of their shares in the IPO.



Source

Charlize Theron is choosing to be single, she told ‘Call Her Daddy’: That can be ‘a sign of strength,’ says relationship expert
World

Charlize Theron is choosing to be single, she told ‘Call Her Daddy’: That can be ‘a sign of strength,’ says relationship expert

Oscar-winning actress Charlize Theron has had her share of romantic relationships. Among the most famous were her relationships with Third Eye Blind frontman Stephan Jenkins and actor Sean Penn. But these days, the mother of two is choosing to be single, she recently told Alex Cooper on podcast “Call Her Daddy.” For her, building her […]

Read More
The ‘cortisol cocktail’ has gone viral on TikTok—but can it actually reduce stress? Here’s what doctors say
World

The ‘cortisol cocktail’ has gone viral on TikTok—but can it actually reduce stress? Here’s what doctors say

Let’s face it: Americans are stressed. Google searches for “how to reduce stress” are high, and 77% of U.S. adults report that the country’s future is a major source of stress, according to a survey done by the American Psychological Association. So, it’s no surprise that people are looking for ways to better manage their […]

Read More
Happiness researcher shares his ’90-second rule’ to live a better, more fulfilled life—it helps when you’re angry or upset
World

Happiness researcher shares his ’90-second rule’ to live a better, more fulfilled life—it helps when you’re angry or upset

Mo Gawdat’s son, Ali, was 21 years old when he died due to medical negligence during a routine appendix surgery in 2014. Gawdat was devastated, confused and in a palpable state of shock. Then, 17 days later, he started writing a book on how to be happy, in his son’s honor. Gawdat has researched the […]

Read More
Powered by WordPress | WP Magazine by WP Mag Plus