Intriguing Demand for Tokyo Metro's IPO Spurs Interest Despite Lack of Trading

In Tokyo today, shares of the city's leading metro operator, Tokyo Metro, did not trade due to an excess of buy orders following the company's initial public offering (IPO). The company successfully raised $2.3 billion by setting the share price at 1,200 yen, the upper limit of its price range. The IPO garnered significant interest, being oversubscribed more than 15 times, highlighting strong investor interest in the well-known company, which also offers an attractive dividend yield. This event marks the largest IPO in Japan since the listing of SoftBank Group's telecom unit in late 2018. Tokyo Metro's public debut received notable attention from investors, underscoring the company's position in the capital's transportation sector.