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Kyushu Railway sets IPO price range at 2,400-2,600 yen-filing
October 6, 2016 / 6:16 AM / a year ago

Kyushu Railway sets IPO price range at 2,400-2,600 yen-filing

TOKYO, Oct 6 (Reuters) - Kyushu Railway Co will price its initial public offering (IPO) between 2,400 yen and 2,600 yen, according to a Japan government filing, enabling the state to raise as much as 416 billion yen ($4.02 billion) in what will be the nation’s largest IPO this year.

The government, which currently owns 100 percent of Kyushu Railway, plans to sell all of its 160 million shares in the railway operator that is better known as JR Kyushu. If the price is set at the top of the range, the offering size will be 416 billion yen.

Last month the government set the indicative price of the railway operator’s shares at 2,450 yen a piece. (Reporting by Junko Fujita; Editing by Muralikumar Anantharaman)

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