Japan's Ride On Express raises $23m in Tokyo IPO
Ride On Express, a Japanese food delivery franchise operator backed by Jafco Ventures, saw its stock open at JPY3105 per share - a 55% premium on the offering price - on its first day of trading. The company earlier raised JPY2.3 billion ($22 million) through a Tokyo IPO.
The firm - which listed on the Mothers (market of the high-growth and emerging stocks) section of the Tokyo Stock Exchange - sold 1.19 million shares, including 250,000 new shares, at JPY2,000 apiece....
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