Nomura Research Institute Ltd., the economic research and consulting arm of Nomura Securities Co., will make its debut Monday on the First Section of the Tokyo Stock Exchange.
NRI has set its initial public offering price at 11,000 yen per share for 2 million new shares. It will also sell 11.60 million of its outstanding shares -- 8 million domestically and 3.60 million overseas.
Many brokers expect NRI to make a strong debut as investors have recently been seen to favor newly listed issues.
"Recently, funds are seen to flow into newly listed issues as investors are trying to get away from shares that are likely to meet selling pressure from the unwinding of cross-held shares or that are hit by fears of credit risks," said Yuji Ono, an analyst at Nikko Cordial Securities Inc.
NRI, based in Tokyo, was set up in 1965 as a think tank for the Nomura Securities group. In 1988, it merged with a Nomura computer affiliate, making the development of computer systems one of the pillars of its operations.
It was initially planned to be listed in October, but the TSE postponed the listing following the terrorist attacks in the United States on fears of waning interest among U.S. institutional investors.
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