Tokyo Metro Co, a major subway operator in Japan, said Tuesday that it has priced its initial public offering at 1,200 yen per share amid strong interest from domestic and overseas investors.
The subway operator is scheduled to list on the Tokyo Stock Exchange's top-tier Prime Market on Oct 23. The company's market value will be around 700 billion yen based on the offering price, making it one of Japan's biggest IPOs in the past decade.
Currently, the central and Tokyo metropolitan governments hold all of the operator's shares. A combined 50 percent will be sold by the time of the listing. The indicative price per share was set within a range of 1,100 to 1,200 yen.
Proceeds from the national government's sale of Tokyo Metro's shares are slated to be used to fund reconstruction projects following the devastating earthquake and ensuing tsunami that struck northeastern Japan in March 2011.
© KYODO
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Dango bong
trains are the ultimate profit-making business. your cost is the same no matter how many rid. you can shut down make everyone late and not be liable. and you can never change anything or be innovative at all and still profit. and monopoly so no competition.
what a corrupt racket
ushosh123
While perhaps doesn't apply to Tokyo metro, but plenty of public transit system across the world is heavily subsidised, poorly run, and bleed money.