Chip device firm Kokusai Electric’s shares jump on Tokyo bourse debut
Japanese chipmaking equipment firm Kokusai Electric Corp. debuted Wednesday on the Tokyo Stock Exchange, with its shares, listed in Japan’s largest initial public offering this year, rising by 15 percent at the start of trading.
The share of Kokusai Electric first changed hands at 2,116 yen on the Tokyo market’s top-tier Prime Market, enjoying continued buying to top 2,300 yen in mid-morning.
The company’s market capitalization was 424 billion yen ($2.8 billion) based on the IPO price of 1,840 yen, but at the start of trade the company’s value leaped to 487 billion yen.
Kokusai Electric, forme...