E*Trade Securities Co. debuted Tuesday on the Jasdaq over-the-counter stock market for startups, fetching an initial quote of 500,000 yen, compared with its initial public offering price of 400,000 yen.
The stock of the Tokyo-based online brokerage attracted strong demand from the outset of trading, with buy orders exceeding sell orders until the initial quote was set at 11 a.m.
In line with the listing, the firm issued 55,000 new shares. An extra 8,250 shares were also offered in an option that allows buyers to demand an additional issue of shares.
E*Trade Securities became a subsidiary of Softbank Investment Corp. in June 2003.