TOKYO :Japan X-ray testing tool maker Rigaku set a tentative initial public offering (IPO) price range of 1,230 to 1,260 yen ($8.48) per share against an initial estimate of 1,230 yen, a regulatory filing showed on Wednesday.
At the top of the range, Rigaku, which is backed by buyout firm Carlyle Group, would raise up to 129 billion yen ($870 million), including an overallotment.
Rigaku’s final IPO price will be decided on Oct. 17, before the Tokyo Stock Exchange listing on Oct. 25.
Japan’s stock market suffered a selloff in early August, sparked by a surprise interest rate hike and fear of a U.S. recession, before regaining ground.
The benchmark index is up around 18 per cent year-to-date.
Tokyo Metro on Monday set the price range for its IPO at 1,100 to 1,200 yen per share.
At the top of the range, Tokyo Metro would raise 349 billion yen in the largest IPO in Japan for six years.
($1 = 148.5400 yen)