Tokyo Metro's IPO Marks Japan's Largest in Six Years

The subway operator's shares surged on debut, raising $2.3 billion and highlighting investor enthusiasm for stable returns.

Tokyo Metro's shares rose by up to 47% on their first trading day, closing at 1,739 yen.
The IPO was oversubscribed more than 15 times, reflecting strong demand from both retail and institutional investors.
The listing raised $2.3 billion, with the Japanese and Tokyo Metropolitan governments each selling half of their stakes.
Investors were attracted by the company's stable business model and an attractive dividend yield forecasted at 40 yen per share for 2025.
This IPO is Japan's largest since SoftBank's telecom unit in 2018 and is part of a broader surge in Japanese stock market activity.