Eneos to Launch Japan's Largest IPO in Seven Years, Targeting $3 Billion

JX Advanced Metals, a subsidiary of Eneos Holdings, will list on the Tokyo Stock Exchange on March 19, aiming to raise funds for growth and decarbonization efforts.

• JX Advanced Metals (JXAM), owned by Japan's Eneos Holdings, plans to raise up to ¥461 billion ($3 billion) through an IPO, the largest in Japan since 2018.
• The IPO will involve the sale of 465.2 million shares, with an additional overallotment option of 69.8 million shares, priced tentatively at ¥862 per share.
• The final pricing for the shares is scheduled to be determined on March 10, ahead of the March 19 listing on the Tokyo Stock Exchange.
• Proceeds from the IPO will be used to enhance shareholder returns and fund investments in growth and decarbonization initiatives, according to Eneos.
• JXAM, a key supplier of semiconductor materials, recently invested in a new sputtering target manufacturing plant in Arizona, reflecting its focus on the technology sector.

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