JAPAN'S ENEOS AIMS TO RAISE AT LEAST $2.6 BILLION IN METALS UNIT'S IPO
NEWS Desk Global
Japan's largest oil refiner, Eneos Holdings, aims to raise at least 400 billion yen ($2.61 billion) by listing its wholly owned metals unit, two sources said, in what would be the nation's biggest IPO in seven years.
Eneos expects to receive approval for the initial public offering of JX Advanced Metals (JXAM) from the Tokyo bourse as soon as this week, the sources told Reuters, declining to be named as the information is not public. The refiner plans to sell half of its JXAM stake in the IPO and is targeting a market value of at least 800 billion yen, they said.
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