Japan Drilling Sets Tentative IPO Price Y3,600-Y3,800/Share
The company is scheduled to start trading on the Tokyo Stock Exchange's Mothers Market on Dec. 17.
At the price range, the newly offered shares will carry a price/earnings ratio of 9.7 to 10.3 times the company's projected earnings per share of Y369.76 for the fiscal year ending March, 2010.
The company will hold the book-building from Dec. 1 to Dec. 7. The fixed offering price will be announced Dec. 8.
Book-building is a process through which the offer price of an IPO is based on actual demand for shares among institutional investors. Underwriters build a "book" by accepting orders from fund managers, who indicate the number of shares desired and the price they are willing to pay.
-Tokyo Bureau, Dow Jones Newswires; 813-5255-2929
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Publié le 27 novembre 2009 Copyright © 2009 Dowjones
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