Internet Initiative Japan Inc (IIJ) said recently it will list its shares on the Tokyo Stock Exchange's Mothers market for start-ups to raise some 1.9 billion yen ($17.60 million). The Nasdaq-listed internet access provider will issue 2,500 new shares ahead of the listing on June 23.
Some 900 will be sold by existing shareholders NIF Ventures Co and JAFCO, both Japanese venture capital firms. Another 500 shares may also be sold if the offer is oversubscribed, depending on market conditions, it said.
The initial public offering (IPO) price will be set June 14-16, and one IPO share will be priced at 2,000 times its Nasdaq-listed stocks' closing price on the previous day.