Rigaku Sets IPO Price Range

TOKYO (Reuters) – Japan X-ray testing tool maker Rigaku has set a tentative initial public offering (IPO) price range of 1,230 to 1,260 yen ($8.48) per share, as stated in a regulatory filing on Wednesday.

At the top of this range, Rigaku, supported by buyout firm Carlyle Group (NASDAQ:CG), could raise up to 129 billion yen ($870 million), including an overallotment.

The final IPO price will be determined on Oct. 17, with the listing on the Tokyo Stock Exchange taking place on Oct. 25.

Japan's stock market recently faced a selloff in early August due to a surprise interest rate hike and concerns over a possible U.S. recession, but the market has since rebounded, with the benchmark index up around 18% year-to-date.

Additionally, Tokyo Metro announced on Monday that it has set its IPO price range at 1,100 to 1,200 yen per share. If priced at the top of the range, Tokyo Metro could raise 349 billion yen, marking the largest IPO in Japan in six years.

(Note: $1 = 148.5400 yen)