Tokyo Metro shares top 1 trillion yen, making largest new listing of the year
Tokyo Metro made its debut on the Prime Market of the Tokyo Stock Exchange on October 23, soaring 45 percent from its initial offering price to 1,739 yen at the close of trading.
The Japanese subway operator’s market capitalization calculated at the closing price exceeded 1 trillion yen, making it the largest new listing of the year.
While the railway business accounts for more than 90 percent of Tokyo Metro's revenue, the company has been pursuing real estate development and other projects to diversify its business.
After the listing, the challenge is how to present the growth strategy to investors.