Tokyo Metro has raised ¥348.6 billion ($2.3 billion) in Japan's largest initial public offering in six years after pricing its shares at the top of its provisional range, a regulatory filing from the company showed on Tuesday.
The IPO was more than 15 times oversubscribed, said two sources familiar with the matter, as many investors were drawn by a household name and the firm's attractive dividend yield.
The company priced the shares at ¥1,200 apiece, compared with a provisional range of ¥1,100 to ¥1,200. It is expected to list on the Tokyo Stock Exchange on Oct. 23.
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