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Japan's SG Holdings debuts on Tokyo market in largest IPO of year

Parcel delivery operator opens 17% above offer price, aims to expand in Asia

SG Holdings President Tadashi Machida celebrates the company's debut on the Tokyo Stock Exchange's first section on Dec.13. (Photo by Maho Obata)

TOKYO -- SG Holdings, owner of Japan's second-largest parcel delivery company, Sagawa Express, made its debut on the Tokyo Stock Exchange's first section Wednesday, opening at 1,900 yen, 17% above its offering price of 1,620 yen.

The opening price valued the company at 608.3 billion yen ($5.36 billion), making it the most valuable initial public offering in Japan so far this year.

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