Flea Market App Firm Mercari Makes firm debut in largest IPO this year

TOKYO, Japan, - June 19: Japanese flea market app operator Mercari Inc. made a strong debut on the Tokyo stock market Tuesday in the largest initial public offering so far this year in Japan, rising to a daily limit high after opening at a price far above the IPO price. Mercari shares briefly surged to an upper limit for the day of 6,000 yen, twice its IPO price of 3,000 yen, before ending the first trading day on the Tokyo Stock Exchange's Mothers market for start-ups at 5,300 yen. The highest price for the day lifted the market capitalization of the online marketplace operator to 811.9 billion yen ($7.3 billion).Based on the closing price, the company's value stood at 717.2 billion yen. It took more than two hours after the market opened to get an initial price of 5,000 yen, 66.7 percent higher than the IPO price, with a glut of buy orders reflecting strong demand from investors. The company's stock lost steam later in the day with some traders selling to lock in gains, but it remained above the opening price most of the day, supported by expectations of further growth potential.


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Clip #:980659176HD
Collection:Kyodo News
Date created:June 19, 2018
License type:Rights-ready
Release info:Not released. More information
Clip length:00:02:02:24
Location:Tokyo, Japan
Mastered to:QuickTime 8-bit H.264 HD 1920x1080 29.97p More information
Source:Kyodo News
Object name:20180619_mercari.mov
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