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Stock impact report

JX Metals Gains on Debut After Biggest Japan IPO Since 2018 [Yahoo! Finance Canada]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Most Read from Bloomberg Shares of the metals refiner, which also makes semiconductor materials, were sold at ¥820 per share — the high end of their marketed range — after demand for the stock outstripped supply. It didn't look that way about two weeks ago, when lukewarm feedback from investors forced JX's parent, oil refiner Eneos Holdings Inc., to cut the offering price. “The offering price was reasonable,” said Hiroaki Tomori, executive fund manager at Mitsubishi UFJ Asset Management. A successful debut for JX may provide a tailwind for other local IPO hopefuls to push forward with their plans to go public. Japanese stocks have failed so far in 2025 to sustain the two-year rally they were on as US President Donald Trump's tariffs rattle global markets, leaving the benchmark Topix index little changed for the year. For investment bankers — Daiwa Securities Group Inc., JPMorgan Chase & Co., Morgan Stanley and Mizuho Financial Group Inc. arranged the JX deal — the focus is on Show less Read more
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