Star Flyer Inc., a domestic airline set to go public Dec. 21, said it has set the price of the shares it will sell to general investors for the first time at ¥3,180 per share.
The airline, which will debut on the second section of the Tokyo Stock Exchange, will float 140,000 new shares at the initial public offering, while up to 90,000 shares held by brokerages and other existing shareholders will be sold to general investors, it said Monday.
The startup company in Kitakyushu plans to raise ¥445 million via the initial share sale and use some of the proceeds to purchase new aircraft.
Star Flyer started flying between Kitakyushu airport, which opened in 2006, and Haneda airport in Tokyo, and then expanded operations to flights between Kansai airport in Osaka and Haneda and between Haneda and Fukuoka. It plans to operate between Kitakyushu and Busan, South Korea, starting in 2012.