{"id":117387,"date":"2024-10-23T09:27:47","date_gmt":"2024-10-23T02:27:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=117387"},"modified":"2024-10-23T09:27:47","modified_gmt":"2024-10-23T02:27:47","slug":"tokyo-metro-shares-surge-45-on-debut-after-japans-largest-ipo-in-six-years","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=117387","title":{"rendered":"Tokyo Metro shares surge 45% on debut after Japan&#8217;s largest IPO in six years"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108021886\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>A walkway with sign of subway line in a Tokyo subway station.<\/p>\n<p>Bruce Yuanyue Bi | The Image Bank | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Shares of Japanese subway operator Tokyo Metro rose almost 45% Wednesday after a stellar IPO.<\/p>\n<p>The company had raised 348.6 billion yen ($2.3 billion) in <a href=\"https:\/\/www.jpx.co.jp\/english\/listing\/stocks\/new\/dh3otn000000frqm-att\/10TokyoMetro-OutlineEN.pdf\" target=\"_blank\" rel=\"noopener\">the largest initial public offering<\/a> in Japan in six years. Shares were priced <a href=\"https:\/\/www.jpx.co.jp\/english\/listing\/stocks\/new\/index.html\" target=\"_blank\" rel=\"noopener\">at the top-end of the<\/a> IPO price band of 1,100 yen to 1,200 yen.<\/p>\n<p>Tokyo Metro is one of Japan&#8217;s leading subway companies and the largest operator in Tokyo. The company is currently owned jointly by Japan&#8217;s national government and the Tokyo metropolitan government, with a 53.4% and 46.6% stake respectively.<\/p>\n<p>Reuters reported that the overall IPO was oversubscribed more than 15 times, while the portion available to retail investors \u2014 almost four-fifths of the overall size \u2014 was oversubscribed around 10 times.<\/p>\n<p>The shares available to domestic and foreign institutional investors, accounting for 1.5% and 20% respectively, were oversubscribed more than 20 and 30 times, Reuters reported.<\/p>\n<p>Jesper Koll, expert director at financial services firm at Japan-based Monex Group in Tokyo, said the IPO was warmly received due to the company being a &#8220;cash cow.&#8221; Tokyo Metro is a &#8220;high dividend, stable cash flow generator,&#8221; and the company has a very low operational risk, he added.<\/p>\n<p>&#8220;So whether you&#8217;re Mr. Watanabe [retail investor] &#8230; whether you&#8217;re the global investor or an institutional investor, this is a great share to own.&#8221;<\/p>\n<p>Koll also pointed out that Tokyo Metro&#8217;s dividend outlook is &#8220;very stable,&#8221; and may even see a little upside.<\/p>\n<p>This is because the demand for metro service in Japan&#8217;s capital remains very strong, and Tokyo&#8217;s population grows at almost 1% every year, he added.<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108051382\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-108051382\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000355603\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108051384-17296465461729646543-36789742143-1080pnbcnews.jpg?v=1729646545&amp;w=750&amp;h=422&amp;vtcrop=y\" alt=\"Tokyo Metro's IPO was warmly received as the company is a 'cash cow': Monex Group\"\/><span class=\"InlineVideo-videoButton\"\/><span\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Mio Kato, founder of LightStream Research, told CNBC&#8217;s &#8220;<a href=\"https:\/\/www.cnbc.com\/street-signs-asia\/\">Street Signs Asia<\/a>&#8221; last week that the stock has been priced &#8220;relatively cheaply,&#8221; describing it as a &#8220;a big banner IPO for the year.&#8221;<\/p>\n<p>Japan stocks rose sharply in 2023 and the country was Asia&#8217;s best-performing market last year, with gains of over 28%. In 2024, the country&#8217;s stock benchmark Nikkei 225 has recorded fresh all-time highs, with year-to-date gains of 16.41%.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/10\/23\/tokyo-metro-shares-gain-40percent-on-debut-after-japans-largest-ipo-in-six-years-.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A walkway with sign of subway line in a Tokyo subway station. Bruce Yuanyue Bi | The Image Bank | Getty Images Shares of Japanese subway operator Tokyo Metro rose &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=117387\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-117387","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/117387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=117387"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/117387\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=117387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=117387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=117387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}