japans-seven-bank-raises-481-million-from-ipo

Japan's Seven Bank raises $481 million from IPO

In a market roiled by volatility and angst, Seven Bank could be just the stable, low-risk investment investors are looking for.
It was good news for the Japanese equity markets when Seven Bank priced its initial public offering at the top of the indicated range last week. Seven Bank isn't a bank but a provider of ATM services affiliated with Seven I, the operator of the 7-Eleven convenience store network. The company is due to start trading on the Jasdeq board on February 29.

Each share will be sold for Ñ140,000, raising a total of Ñ50.9 billion $481 million and making this the biggest Japanese IPO since the $3 billion listing of Sony Financial in October last year. The shares were offered in range between Ñ120,000 and Ñ140,000 apiece. Seven Bank will receive just $68 million...
¬ Haymarket Media Limited. All rights reserved.

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