Tokyo Metro heads for October IPO, governments seek $4.7b valuation

Tokyo Metro heads for October IPO, governments seek $4.7b valuation

FILE PHOTO: Tokyo Metro's logo is pictured at Kasumigaseki station in Tokyo, Japan August 15, 2024. REUTERS/Miho Uranaka/File Photo

Japan’s national and Tokyo governments are seeking a 700 billion yen ($4.7 billion) valuation for Tokyo Metro as they prepare to list the subway operator as early as October-end, three sources said, in what would be the nation’s biggest IPO in roughly six years.