Japan's largest recruitment company Recruit Holdings priced its initial public offering at 3,100 yen on Monday, the top of its bookbuilding range, showing confidence in investor demand for the $2 billion listing. The company's Oct. 16 listing, which will help Recruit to pay for future acquisitions as it expands overseas, will test investor demand for big Tokyo listings after several weak debuts earlier this year. Some of the disappointing listings have reflected company-specific reasons, with Japan Display Inc's shares skidding 43 percent from their IPO price as investors fret about falling smartphone screen prices and its ability to compete with Asian rivals. Investors have said Recruit may fare better due to a recent pickup in Tokyo shares as well as solid fundamentals.
via Business News http://ift.tt/1Ejm6la
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