/

IPOs on pace to grow 20% in ’13

JIJI

Initial public offerings in 2013 are on track to grow some 20 percent from the previous year amid a buoyant stock market thanks partly to Prime Minister Shinzo Abe’s economic policies.

The number of newly listed companies is likely to rise to 58, exceeding the most recent peak of 49 in 2008.

Keiji Kuramoto of Nomura Securities Co. said that the annual figure is likely to reach around 100 in two or three years.

The number of IPOs tumbled to 19 in 2009 in the aftermath of the global financial crisis, before gradually picking up.

So far this year, 42 companies have made their stock market debuts on domestic exchanges, including the market for professionals. With an additional 16 IPOs scheduled by the end of the year, it is almost certain the annual number will increase for the fourth year in a row.

“Corporate appetite for stock listing has grown thanks to favorable market conditions and the country’s economic recovery,” an official at a major brokerage said.

This year’s newly listed companies include Suntory Beverage & Food Ltd., a key unit of Suntory Holdings Ltd., and startups in the information technology service and biotechnology sectors.

Many sources expect 2014 IPOs to between 70 and 80.