Shinsei Bank shares debuted Thursday on the first section of the Tokyo Stock Exchange, marking a dramatic revival from the collapse of Long-Term Credit Bank of Japan five years ago.
One of the most closely watched initial public offerings in recent years met strong demand from investors, who had to wait until the early afternoon session to learn the shares' initial market price of 872 yen after bidding orders flooded in since the opening of trade.
The shares finished the first day of trading at 827 yen, up 58 percent from the IPO price of 525 yen and positioning Shinsei as the nation's sixth-largest bank in terms of market capitalization.
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