Japanese medical device maker PHC Holdings Corp. and its shareholders are looking to raise as much as ¥172 billion ($1.6 billion) in a Tokyo initial public offering (IPO) that would be country’s biggest in almost three years.
The sale will comprise about 46.5 million shares, of which 5.8 million will be new and 40.7 million will come from existing shareholders including private equity firm KKR & Co., according to terms of the deal. An indicative IPO price has been set at ¥3,700 per share, though the final price will be decided on Oct. 6, the terms show.
PHC’s IPO would be Japan’s biggest first-time share sale since the $21 billion listing of SoftBank Group Corp.’s telecommunications business in December 2018, data compiled by Bloomberg shows.