• Kyodo

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The holding company of Ashikaga Bank, a regional bank once nationalized after falling into negative net worth, began trading Thursday on the first section of the Tokyo Stock Exchange in the year’s third-largest initial public offering.

Ashikaga Holdings Co. began trading at ¥451, up 7.4 percent from its IPO price of ¥420 and valuing the company at ¥146.5 billion, making the IPO the third-largest of the year in Japan, according to Mitsubishi UFJ Morgan Stanley Securities Co.

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