Kyushu Railway Co. debuted firmly Tuesday on the Tokyo Stock Exchange in the country’s second-biggest initial public offering this year after Line Corp.
Shares opened at ¥3,100 on the first section of the TSE, up 19.2 percent from the IPO price of ¥2,600, bringing the company’s value to ¥496 billion.
The listing follows this year’s largest IPO of Japanese messaging app provider Line, which was valued at ¥912.4 billion when it went public in July.
“The debut of JR Kyushu stock above the IPO price has brightened investor sentiment,” said Maki Sawada, vice president of investment research and investor services at Nomura Securities Co. “The smooth debut shows the market is highly interested in the company.”
Created through the breakup and privatization of the national railway company in 1987, the company known as JR Kyushu is the fourth JR company to go public, following East Japan Railway Co., West Japan Railway Co. and Central Japan Railway Co.