Tokyo Metro's $2.3 Billion IPO Marks Japan's Largest in Six Years

The highly oversubscribed offering is expected to invigorate Japan's IPO market amid a slowdown in Chinese listings.

Tokyo Metro's IPO raised ¥348.6 billion ($2.3 billion), pricing shares at ¥1,200 each, the top of its expected range.
The offering was more than 15 times oversubscribed, highlighting strong investor interest and confidence.
This IPO is Japan's largest since SoftBank Corp.'s $21 billion listing in December 2018.
Tokyo Metro's shares are set to list on the Tokyo Stock Exchange on October 23.
Analysts predict the success of this IPO could attract more companies to the Japanese market, countering a decline in Chinese IPO activity.