Japan, Tokyo governments target $4.7 bln valuation for Tokyo Metro in IPO

Reuters exclusively reported that Japan’s national and Tokyo governments are seeking a 700 billion yen ($4.7 billion) valuation for Tokyo Metro as they prepare to list the subway operator as early as October-end, in what would be the nation’s biggest IPO in roughly six years. The two governments, which own 100% of Tokyo Metro, plan to arrange a meeting of brokerages within a week for a briefing on the IPO and expect to receive approval for the listing from the Tokyo Stock Exchange as soon as mid-September, the sources said.