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Inkjet-printer maker Seiko Epson Corp., due to list its stock on the first section of the Tokyo Stock Exchange later this month, said Monday it expects to raise up to 120.3 billion yen via an initial public offering.

The latest forecast by the affiliate of Seiko Corp. came after the upper pricing limit for the public offering rose to 2,600 yen per share from the previously planned 2,450 yen, reflecting hefty investor demand. The fundraising plan by the company, based in Suwa, Nagano Prefecture, is expected to be the largest to date among the newly listed companies this year.

Taiyo Life converted itself into a stock company from a mutual firm with its listing on the first section of the TSE on April 1.

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