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JR Kyushu IPO opens at 3,100 yen www3.nhk.or.jp
Kyushu Railway, or JR Kyushu, has debuted on the Tokyo Stock Exchange, fetching more than its initial offering price.
About 30 minutes into Tokyo trading on Tuesday, the share price opened at 3,100 yen. Its initial offering price was 2,600 yen.
JR Kyushu's total market value could exceed 400 billion yen, or 3.8 billion dollars. It is likely to be Japan's 2nd largest IPO of the year, following the messaging app provider, LINE, which made its debut in July.
JR Kyushu was founded in 1987 when the government privatized the former Japanese National Railways and divided it into regional companies.
Most of its train lines are operating in the red.
JR Kyushu is trying to create new services to attract tourists. The company is also getting involved in real estate development with station buildings and condominiums.
Published Date:2016-10-25
