TOKYO (Reuters) - Japanese logistics company SG Holdings Co said on Monday its initial public offering would raise up to 124.5 billion yen ($1.1 billion), valuing the company at about 500 billion yen.
The company, its employee shareholding association and others will sell 78,775,400 shares, including over-allotments, in a global offering tentatively priced at 1,580 yen, a regulatory filing showed.
The company said the indicative price for book building, a process to gauge investor demand, will be set on Nov. 24 and the offering price will be finalised on Dec. 4. The shares will start trading on the Tokyo Stock Exchange on Dec. 13.
SG Holdings owns Sagawa Express Co, Japan’s second-largest parcel delivery company with a 30.6 percent market share. It also holds a 29 percent stake in Hitachi Transport System Ltd.
Morgan Stanley and Daiwa Securities are joint global coordinators.
Reporting by Taiga Uranaka; Editing by Amrutha Gayathri