Japan’s longest drought in initial public offerings since the financial crisis will end later this month when three companies list on the same day.
Locoguide Inc., Ficha Inc. and Copa Corp. are expected to list on the bourse’s Mothers market on June 24, marking a 78-day gap since Matsuya R&D Co. went public on April 6. Locoguide seeks to raise about $44 million (¥4.7 billion), the largest of the three deals. Three more Japanese companies plan to list before the end of June, and five have announced IPOs for July so far.
Global IPOs slowed to a trickle this year after the spread of the coronavirus outbreak from January, as market slumps and volatility caused issuers to stay on the sidelines. New offerings have jumped back to life with planned deals announced this month totaling over $12 billion, mainly for Chinese and U.S. companies.