Japan's Takara to become first to list on infrastructure market

Mirarth Holdings

04/04/2016 08:19

TOKYO, April 4 (Reuters) - Takara Leben Infrastructure Fund, 
managed by a fully owned unit of condominium developer Takara 
Leben Co  8897.T , said it will list shares on Japan's 
infrastructure market by selling trusts backed by revenue from 
solar power plants.  
    The listing will be the first for the Tokyo Stock 
Exchange's nascent infrastructure market, which was created a 
year ago. The market became attractive finally after renewable 
energy trusts become exempt from corporation tax for 20 years 
from April 1.  
    Takara Leben Infrastructure said on Monday it will sell as 
much as 4.74 billion yen ($42.58 million) shares in trusts that 
are backed by revenue from solar power plants which sell 
electricity to Japan's utilities.  urn:newsml:reuters.com:*:nL4N16J3AA 
    Asset managers Sparx Group Co Ltd  8739.T , Ichigo Inc 
 2337.T  and Renewable Japan Co have also said they aim to list 
their plants as investment trusts, paying dividends from 
electricity sales. 
    Takara Leben Infrastructure will be managed by Takara Asset 
Management which is fully owned by Takara Leben.  
    Takara Leben Infrastructure plans to sell 45,166 shares at 
an estimated price of 100,000 yen each. As many as 2,258 more 
shares will be sold depending on the demand.       
             
     
     
 
 (Reporting by Junko Fujita; Editing by Kim Coghill) 
 ((813-6441-1840, junko.fujita@thomsonreuters.com, Reuters 
Messaging:junko.fujita.reuters.com@reuters.net;)) 
 
Keywords: TAKARA LEBEN SOLAR/LISTING