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2mo ago

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.

The logo of Eneos Holdings and Eneos Corporation is displayed at the company headquarters in Tokyo, Japan August 20, 2020. Picture taken August 20, 2020. REUTERS/Issei Kato/File Photo
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Overview

  • 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.