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IPO of Japan's No.2 parcel delivery operator tops offering by 17%

Sagawa Express parent, SG Holdings, opens at 1900 yen

TOKYO -- Initial share prices of SG Holdings, operator of Japan's second-ranked Sagawa Express parcel delivery company, were quoted at 1,900 yen on Wednesday after the company debuted on the Tokyo Stock Exchange.

Trading volume reached 14,549,300 shares as the initial price, 17% above the offering price of 1,620 yen, was quoted at 9:33 a.m. on the first section, after buying orders continued to significantly exceed selling orders from the beginning of trading at 9 a.m.

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