Papanets sets IPO price at JPY 700 per share

Papanets (TSE:9388) announced the pricing of its initial public offering (IPO) at ¥700 per share. The company also set the underwriter's acquisition price at ¥644. The offering includes 100,000 newly issued shares and a secondary offering of 100,000 shares by the company's stakeholder through an underwriter's over-allotment. The over-allotment option consists of 30,000 shares. The pricing decision followed a book-building process that indicated strong demand, with total demand exceeding the number of shares offered. The subscription period will run from March 13 to March 18, 2025, with payment due on March 19 and the stock delivery scheduled for March 21. With this IPO Papanets expects to add ¥32.2 million to both capital and capital surplus. After the IPO Papanets' total capital will be ¥82.2 million.