Tokyo Metro’s (9023.T), opens new tab shares shot up 45% in their market debut on Wednesday after Japan’s largest initial public offering in six years bagged it $2.3 billion with the lure of sizeable dividends.
Shares closed at 1,739 yen ($11.43) giving Tokyo Metro, one of the capital’s two major subway operators, a valuation of roughly 1 trillion yen.
Tokyo Metro’s first-day performance is the best to follow a large Japan IPO since flea market app operator Mercari (4385.T), opens new tab, which popped 77% in its debut in 2018, Dealogic data showed.
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