Apparel Firm World to Go Public Again on Sept. 28
Tokyo, Aug. 22 (Jiji Press)--The Tokyo Stock Exchange said Wednesday that it has approved plans to list shares of major Japanese apparel firm World Co. on the exchange on Sept. 28.
In November 2005, World, based in the western Japan city of Kobe, went private through a management buyout designed to protect itself from hostile takeovers.
Based on World's expected initial public offering price of 3,630 yen apiece, the company's market capitalization is projected to total 130 billion yen, one of the largest stock listings in Japan this year.
The offering price will be determined on Sept. 18. World is likely to be listed on the TSE's first section.
The company's decision to go public again reflected its desire to raise capital to strengthen its online shopping operations and finance mergers and acquisitions.
[Copyright The Jiji Press, Ltd.]