Business

TV Tokyo plans August TSE debut

The Tokyo Stock Exchange said Monday it has given the go-ahead for TV Tokyo Corp. to list its stock on the nation’s largest bourse on Aug. 5.

The section on which the stock of the Tokyo-based commercial TV station will be listed will be decided after the public offering price is determined July 27, it said.

TV Tokyo will be the last of Tokyo’s five key commercial TV stations to list on the TSE. The four stations already listed are all in the first section.

In line with its listing, TV Tokyo said it will issue 2 million new shares. Four major shareholders — Nippon Steel Corp., Mizuho Bank, JFE Steel Corp. and Mizuho Corporate Bank — will also release up to 980,000 TV Tokyo shares, the TSE said.

The TV station started broadcasting in 1964 and Nihon Keizai Shimbun Inc. later joined in its management. The station has been involved in producing educational, news and other programs.

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