FUKUOKA – Southwestern Japan railway operator Kyushu Railway Co. will list on the Tokyo bourse’s main section on Oct. 25 in what would be the second-largest initial public offering in Japan this year, people close to the matter said Thursday.
The company, commonly known as JR Kyushu, will also list on the Fukuoka Stock Exchange, they said.
The Tokyo Stock Exchange’s approval for the company’s listing on its First Section is expected to come in mid-September at the earliest, they said.
JR Kyushu, created from the privatization of the national railway company in 1987, would be the fourth JR company to go public, following East Japan Railway Co. (JR East), West Japan Railway Co. (JR West) and Central Japan Railway Co. (JR Central).
With an expected market capitalization of around ¥500 billion ($4.9 billion), JR Kyushu’s listing would be the second-largest IPO this year after that of smartphone messaging app company Line Corp.
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