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Tokyo Metro Shares Surge 45% on Debut

Tokyo Metro's stock increased about 45% on Wednesday following a successful first public offering. The company raised 348.6 billion yen ($2.3 billion) in Japan's largest IPO in six years. Shares were priced at the upper end of the IPO price range of 1,100 to 1,200 yen. According to Reuters, the IPO was oversubscribed more than …

Tokyo Metro’s stock increased about 45% on Wednesday following a successful first public offering. The company raised 348.6 billion yen ($2.3 billion) in Japan’s largest IPO in six years. Shares were priced at the upper end of the IPO price range of 1,100 to 1,200 yen. According to Reuters, the IPO was oversubscribed more than 15 times, with the portion available to individual investors approximately 10 times oversubscribed.

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