Eneos aims to raise as much as $3 billion via metals unit IPO
TOKYO (Reuters) – JX Advanced Metals (JXAM), a wholly owned metals unit of Japan’s Eneos Holdings, won approval to list its shares in a $3 billion share offering, a regulatory filing showed on Friday, in what would be the nation’s biggest IPO in seven years.
JXAM has set a tentative offering price of 862 yen ($5.64) per share ahead of its listing on the Tokyo Stock Exchange on March 19.
The final pricing is set for March 10.
Eneos, Japan’s largest oil refiner, plans to sell 465.2 million shares of JXAM with an overallotment option of up to 69.8 million shares. The share sale would help Eneos raise as much as 461 billion yen ($3.01 billion), according to Reuters’ calculations.
($1 = 152.8600 yen)
(Reporting by Mariko Katsumura and Sam Nussey; Editing by Muralikumar Anantharaman)
READ the latest news shaping the hydrogen market at Hydrogen Central
Eneos aims to raise as much as $3 billion via metals unit IPO, source
