Tokyo, 22 September, /AJMEDIA/
Japanese major subway operator Tokyo Metro Co says it will be listed on the Tokyo Stock Exchange’s top-tier Prime Market on Oct 23.
The company’s market value will be around 640 billion yen based on the indicative price per share of 1,100 yen.
Currently, the central government holds 53.4 percent of the subway operator’s shares, while the Tokyo metropolitan government owns the remaining 46.6 percent. They will sell a combined 50 percent, Tokyo Metro said.
The offering price will be determined on Oct 15 following a book-building process to gauge investor demand.
The central government will use the proceeds from the share sale to fund reconstruction from the March 2011 earthquake and tsunami disaster in northeastern Japan.