JX Advanced Metals seeks TSE debut for estimated $4.7bn market cap

Japan metal supplier's IPO could exceed Tokyo Metro's debut of around $4.4bn

20241008N JX Advanced Metals Sputtering Target

JX Advanced Metals controls a 60% global market share in sputtering targets, a chipmaking material. (Photo by Yuji Ohira)

YUJI OHIRA, Nikkei staff writer

TOKYO -- JX Advanced Metals announced Tuesday that it has applied to list its shares on the Tokyo Stock Exchange, a debut that is expected to value the metal supplier at more than 700 billion yen ($4.72 billion).

The initial public offering is slated for March or April of 2025. JX Advanced Metals is a wholly owned subsidiary of Japanese energy group Eneos Holdings, whose stake is expected to fall below 50%.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.