Japan Seeks to Raise $3.8 Billion from IPO
The Japanese government is seeking to raise as much as 392 billion yen ($3.8 billion) selling shares of Kyushu Railway Co in an initial public offering which is poised to be the world’s second biggest this year.
“The Japanese government is seeking to raise as much as 392 billion yen ($3.8 billion) selling shares of Kyushu Railway Co.”
The Japan Railway Construction, Transport and Technology Agency, which fully owns the company, also known as JR Kyushu, is offering 160 million shares at an indicative price of 2,450 yen apiece, according to a statement in Tokyo Thursday. The agency is selling all of its shares and plans to list them on Oct. 25 on the Tokyo Stock Exchange. This IPO is poised to the second biggest for 2016 after Postal Savings Bank of China Co which is looking to raise as much as $8.1 billion in a Hong Kong share sale.
About Japan Railway Construction
The Japan Railway Construction, Transport and Technology Agency (JRTT) was founded in 2003 as an independent administrative agency by integrating the Japan Railway Construction Public Corporation (JRCC) and the Corporation for Advanced Transport & Technology (CATT).
Visit: Japan Railway Construction
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