Subway operator Tokyo Metro launches $2.25 billion IPO

TOKYO (Reuters) -Subway operator Tokyo Metro said on Friday it plans to list on the Tokyo Stock Exchange on Oct. 23, setting the stage for what would be Japan’s largest initial public offering (IPO) in about six years.

At Tokyo Metro’s indicative price of 1,100 yen per share, 319.55 billion yen ($2.25 billion) worth of shares will be offered.

Tokyo Metro’s history dates back to 1920 with the establishment of the Tokyo Underground Railway Company. Seven years later, it opened Japan’s first subway line, between the Asakusa and Ueno districts of Tokyo.

Separately, Rigaku, a maker of X-ray testing tools backed by buyout firm Carlyle Group (NASDAQ:), plans to list on Oct. 25, according to a term sheet seen by Reuters.

The IPO would raise up to $888 million, including overallotment, with the company having a market value of $2 billion after the offering.

($1 = 142.1900 yen)