JX Metals Rises in Debut After Biggest Japan IPO Since SoftBank
JX Advanced Metals Corp. is counting on demand for things such as AI chips to continue attracting investors.
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JX Advanced Metals Corp. climbed 6.6% in its debut on the Tokyo Stock Exchange after its initial public offering raised ¥439 billion ($2.9 billion), the nation’s biggest float since SoftBank Corp.’s giant deal more than six years ago.
JX, which refines metal and makes semiconductor materials, closed at ¥874 on Wednesday. That compares with the ¥820 IPO price, which was at the high end of the marketed range.