The Japanese government is set to raise as much as USD 4 billion by selling its entire holding in Kyushu Railway Co (JR Kyushu), according to a government filing. This will be Japan’s largest initial public offering (IPO) this year. The government has increased the value per share from JPY 2400 to JPY 2600, compared with an indicative price of JPY 2,450 released last month.
The government, which currently owns 100 percent of Kyushu Railway, plans to sell all of its 160 million shares in the railway operator. If the price is set at the top of the range, the offering size will be JPY 416 billion (USD 4.02 billion).
Kyushu Railway Company was established in 1987 and has a capital of JPY 16 billion (USD 155.5 million).
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