Seiko Epson's billion-dollar listing in Tokyo has given a welcome boost to the global IPO market.
The printer and scanner maker yesterday raised $1.12 billion in the second largest IPO in the world this year, according to data from Dealogic.
Seiko shares were warmly received by investors, climbing by over 35% in value during their first day's trading.
The company had initially expected only to offer around $910 million of shares at a price of only Y2,300 a share. Seiko yesterday sold 50.8 million shares at a price of Y2600 a share.
The Japanese IPO market has proved to be something of a bright spot this year. In March, the Taiyo Life Insurance Co successfully completed a $330 million IPO. Next month, NEC plans to raise $1.17 billion by floating its microchip making unit.