Our base-case DCF valuation is JPY2,058 per share. Peers have modestly re-rated, and a lower IPO price range helps increase the IPO's attractiveness.
Boomeranged on Mon, 16 Oct 2023 15:40
Kokusai has priced its IPO at the top of its IPO price range of JPY1,830-1,840 per share to raise US$724.4 million. The international offering was more than ten times oversubscribed. The shares will start trading on 25 October.
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