Japan Display IPO prices at bottom of range

Japan Display, a major supplier to Apple, priced at the low end of guidance, reflecting cautious investor sentiment globally.

Japan Display, a major supplier to Apple, raised a lower-than-targeted $3.1 billion from its initial public offering of shares on Monday as weak markets helped dampen down demand.

The world’s largest manufacturer of screens for tablets and smart phones sold 140 million primary shares and 213.9 million secondary shares with an overallotment of 18 million shares at 900 $8.72 each, at the bottom end of its initial 900 to 1,100 $8.72 to $10.66 range.

Some 132.7 million shares, or 37.5% of the total shares on offer, were made available to international investors, while 221.2 million went to the domestic market, according to a term sheet seen by...

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