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Stocks

Sagawa Express parent to be Japan's largest IPO this year

Logistics giant sets lofty offering price after gauging investor demand

The parent of Japanese parcel delivery company Sagawa Express has decided the offering price for its shares, which will go public on Dec. 13.

TOKYO -- SG Holdings announced an offering price of 1,620 yen per share Monday, valuing the owner of parcel delivery giant Sagawa Express at 518.7 billion yen ($4.6 billion) for the nation's largest initial public offering yet of 2017.

SG Holdings will list Dec. 13 on the first section of the Tokyo Stock Exchange. It originally set a tentative price between 1,540 yen and 1,620 yen but settled on the high end of the range after surveying investor demand. The market capitalization is roughly quintuple Sushiro Global Holdings' valuation based on its opening price after listing in late March.

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