Japan’s biggest equity rally in four decades is driving a boom in initial public offerings, with new listings this year poised to reach the most since 2007 and every stock rising on its debut.
About 60 companies have gone public in 2013 or plan to do so by year-end, the most since 121 offerings in 2007, according to projections by Nomura Holdings Inc. The 37 IPOs since December have climbed on their first trading day, the longest streak of gains since 39 listings advanced in 2006, data compiled by Bloomberg show. The average opening-day advance this year was 140 percent, according to the data. Reprocell Inc. (4978), a stem-cell medical research company, soared more than fivefold in June for the largest of the year.Read more »