JX Advanced Metals IPO Set to Be Japan's Largest in Years
Japanese semiconductor materials supplier JX Advanced Metals Corp. has announced its indicative share price for its upcoming IPO, potentially making it the largest Japan-based IPO since 2018.
The deal, backed by oil giant Eneos Holdings Inc., could raise up to ¥460 billion ($3 billion), surpassing the 2022 IPO of subway operator Tokyo Metro Co. and becoming the largest since SoftBank Corp.'s listing in December 2018.
JX Advanced Metals has set an indicative price of ¥862 per share, with the price range to be finalized on March 2 and the final pricing on March 10. The company is expected to list on the Tokyo Stock Exchange on March 19.
The impending IPO signals a strong year for Japanese IPOs, which outperformed the region in 2024. The offering also serves as a bellwether for the market's bullish sentiment and is being closely monitored by other companies considering going public.