Tokyo Stock Exchange President revives Japanese market through IPOs
Tokyo Stock Exchange Inc. President Akira Kiyota revealed his strategies to perk up Japanese markets. The newly elected chief would increase the number of initial public offerings and listings by foreign corporation. He wanted to ride on the investor's enthusiasm urged by the nation's pro-growth plans.
"The economy has entered a revival phase so we're hoping for 70 [IPOs] this year if things go well," TSE President stated on Monday in his initial interview with reporters since he started with the job in June. "And that won't be the end. If economic growth and Abenomics continue, we hope that the number of listed firms will increase further."
This year, bankers anticipated about 60 IPOs. The IPOs in 2012 were reported to be just 48. In the first half of the year, stocks of all 21 recently listed Japanese corporations went higher than their offering price on their exchange debut.
Last week, Suntory Beverage and Food Ltd. rose with US$3.9 billion IPO. The company's shares climbed constantly.
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