Government officials in Japan are preparing to list Tokyo Metro in coming weeks in an IPO that is likely to be the country’s biggest in years.
National and city officials want a 700-billion-yen ($4.7 billion) valuation for the subway operator for its listing, which sources say could occur as soon as late October – just over two months.
The national and Tokyo governments, which own 100% of Tokyo Metro, plan to arrange a meeting of brokerages within a week for a briefing on the IPO and expect to receive approval for the listing from the Tokyo Stock Exchange as soon as mid-September, the sources said.
