Japan Display Inc. Prepares $4Bn IPO
Bloomberg is reporting that Japan Display Inc. will launch $4Bn IPO via the Tokyo Stock Exchange on March 19th http://bit.ly/1lVvmSl
The official company comment on this news “.. JDI currently has nothing specific to announce relating to the subject matter of the media reports..”
Via Bloomberg: Japan Display Inc., a supplier of screens for Apple Inc. devices, and its owners are seeking about 409.1 billion yen ($4 billion) in the country’s biggest initial public offering in 18 months. Japan Display will sell 140 million new shares in the offering, while investors will sell 213.9 million existing shares, according to terms for the deal obtained by Bloomberg News. A $4 billion deal would be the nation’s biggest initial public offering since Japan Airlines Co.’s $8.4 billion sale in September 2012, according to data compiled by Bloomberg. It offers a partial exit for state-backed Innovation Network Corp. of Japan, which spent 200 billion yen for a 70 percent stake in Japan Display when it was formed through a three-way merger in 2012.
Japanese stocks were the best performers among major Asian markets over the past year, encouraging investors such as Bain Capital LLC and Cerberus Capital Management LP to recoup funds through first-time share sales. Nomura, the country’s No. 1 equity underwriter in 2013, expects IPOs will almost double to 1 trillion yen this year.
Also noted: World’s Biggest Tablet, Smartphone Display Maker and Key Apple Supplier to List in March.. via WSJ.