Japanese logistics firm SG Holdings IPO to raise up to $1.1 bln
06/11/2017 07:35
TOKYO, Nov 6 (Reuters) - Japanese logistics company SG
Holdings Co said on Monday its initial public offering would
raise up to 124.5 billion yen ($1.1 billion), valuing the
company at about 500 billion yen.
The company, its employee shareholding association and
others will sell 78,775,400 shares, including over-allotments,
in a global offering tentatively priced at 1,580 yen, a
regulatory filing showed.
The company said the indicative price for book building, a
process to gauge investor demand, will be set on Nov. 24 and the
offering price will be finalised on Dec. 4. The shares will
start trading on the Tokyo Stock Exchange on Dec. 13.
SG Holdings owns Sagawa Express Co, Japan's second-largest
parcel delivery company with a 30.6 percent market share. It
also holds a 29 percent stake in Hitachi Transport System Ltd.
Morgan Stanley and Daiwa Securities are joint global
coordinators.
($1 = 114.3800 yen)
(Reporting by Taiga Uranaka; Editing by Amrutha Gayathri)
((taiga.uranaka@thomsonreuters.com; +81-3-6441-1813; Reuters
Messaging: taiga.uranaka.reuters.com@reuters.net))
Keywords: SG HOLDINGS IPO/