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Japan antitrust watchdog probes underwriter role in IPO pricing

First-day opening price jumps indicate securities companies underprice stock offers

Japanese authorities are looking into whether underwriters are pricing IPOs fairly.

TOKYO -- The Japan Fair Trade Commission, the anti-monopoly watchdog, has begun investigating if securities companies and underwriters are pricing shares fairly in initial public offerings, Nikkei has learned. 

The move comes after the body noted that in many deals, the difference in offer prices before listing and opening share prices on debut have been larger than in Europe and the U.S. 

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