JR Kyushu Shares Surge in Tokyo Debut After $4 Billion IPO
- Rail operator stock climbs 15% from offered price of 2,600 yen
- Will step up focus on non-rail assets, President Aoyagi says
JR Kyushu Shares Surge in Tokyo Debut
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Kyushu Railway Co. shares rose on their first day of trading in Tokyo after Japan’s government raised 416 billion yen ($4 billion) selling its entire stake in an initial public offering.
The stock climbed 15 percent to 2,990 yen in Tokyo on Tuesday after touching 3,120 yen earlier. The government sold all 160 million shares held by Japan Railway Construction, Transport and Technology Agency for 2,600 yen apiece, or the top end of a marketed range. The shares will start trading in Fukuoka on Wednesday.