Tokyo Metro’s IPO Seeks to Raise More Than $2 Billion
- Company will set price band Oct. 7, list shares Oct. 23
- IPO would be biggest in Japan since SoftBank Corp.’s 2018 deal
A Tokyo Metro Co. subway station in Tokyo.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
The initial public offering of Tokyo Metro Co., one of two subway operators based in Japan’s capital, is seeking to raise around ¥319.6 billion ($2.24 billion), giving a big boost to the country’s market for new listings.
The company’s IPO would be the biggest in Japan since SoftBank Corp.’s $21 billion listing in December 2018, according to data compiled by Bloomberg. Tokyo Metro, whose IPO could value it at about ¥639.1 billion, plans to list on the Tokyo Stock Exchange on Oct. 23, it said in a filing to Japan’s Ministry of Finance on Friday.