Chip design firm Socionext Inc. jumped 15% in its Tokyo debut after completing Japan’s largest initial public offering this year, defying recent investor pessimism about global semiconductor shares.
Shares of the Yokohama-based company, which had Panasonic Holdings Corp., Fujitsu Ltd. and the Development Bank of Japan Inc. as holders prior to the listing, ended the first session at 4,200 yen. They were sold at 3,650 yen each, the top of the marketed range in an IPO that was upsized to 66.8 billion yen ($456 million) due to high investor interest.
