Deals
Seibu Prices IPO at Low End of Range as Cerberus Opts Out
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Seibu Holdings Inc., operator of Japan’s biggest hotel chain, priced a 44.5 billion yen ($438 million) initial public offering at the bottom of its planned range after two IPOs flopped last month.
The price was set at 1,600 yen a share, according to a filing today. The deal values the company at 547.4 billion yen, about 33 times projected profit for the year ended March.