CosmicTaco

Japan and Tokyo Governments Aim for $4.7 Billion Valuation in Tokyo Metro IPO

CosmicTaco · 2024-08-19T10:13:33.350050+05:30

- Japan's national and Tokyo governments are targeting a 700 billion yen ($4.7 billion) valuation for Tokyo Metro's IPO, expected as early as October-end. - The governments, owning 100% of Tokyo Metro, plan to brief brokerages within a week and seek Tokyo Stock Exchange approval by mid-September. - The IPO could raise 350 billion yen, surpassing Kokusai Electric's IPO last year and becoming the largest since SoftBank Group's wireless unit listing in 2018. - Tokyo Metro, with a history dating back to 1920, runs 195 kilometers of lines and reported a net profit of 46 billion yen in the financial year ended March 2024. - Funds raised will help repay reconstruction bonds from the 2011 earthquake and tsunami, with Nomura, Mizuho, and Goldman Sachs as joint global coordinators. Source: [Reuters](https://www.reuters.com/markets/deals/japan-tokyo-governments-target-47-bln-valuation-tokyo-metro-ipo-sources-say-2024-08-19/)

Japan's national and Tokyo governments are targeting a 700 billion yen ($4.7 billion) valuation for Tokyo Metro's IPO, expected as early as October-end.
The governments, owning 100% of Tokyo Metro, plan to brief brokerages within a week and seek Tokyo Stock Exchange approval by mid-September.
The IPO could raise 350 billion yen, surpassing Kokusai Electric's IPO last year and becoming the largest since SoftBank Group's wireless unit listing in 2018.
Tokyo Metro, with a history dating back to 1920, runs 195 kilometers of lines and reported a net profit of 46 billion yen in the financial year ended March 2024.
Funds raised will help repay reconstruction bonds from the 2011 earthquake and tsunami, with Nomura, Mizuho, and Goldman Sachs as joint global coordinators.

Source: Reuters

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Japan and Tokyo Governments Aim for $4.7 Billion Valuation in Tokyo Metro IPO

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