Tokyo, Japan
PRONEXUS INC.(TOKYO:7893), Japan's leading financial printer, reports on the conditions within the 2007 Japanese IPO market.
1. Overview
During 2007, the number of IPOs fell by 67 companies or 36% to 121 from 188 in 2006. In particular during the October to December 2007 period, the number of IPOs fell by a large margin of 33 companies or 54% to 28 from 61 in the same period during 2006. Furthermore the first share price after the IPO for some companies fell below their subscription price.
The Jasdaq Securities Exchange, Inc. established a new market called "NEO" in November for high growth companies involved with newer technologies and business models, and listed three companies by the end of the year.
2. Major Indicators
(1) New Listings by Securities Exchanges (2006 data in parenthesis)
Established markets: 15 (33), Mothers: 23 (41), JASDAQ: 49 (56), Hercules: 25 (37), Centrex: 2 (13), Ambitious: 5 (4), Q-Board: 2 (4).
(2) New Foreign Company Listings
ASIA MEDIA Co., Inc. (April, TSE Mothers, China)
CHINA BOQI Inc. (August, TSE First Section, China)
(3) Number of Years from Founding to IPO
Shortest: 1 year 6 months, Longest: 73 years 9 months
(4) Sales in the Year Before IPO
The company with the largest sales was the insurance company Sony Financial Holdings Inc., which listed on the First Section of the TSE with JPY759.3 billion in sales.
The company with the smallest sales was the regenerative medical products, and research and development company Japan Tissue Engineering Co., Ltd., which listed on the JASDAQ NEO market with JPY100 million in sales.
(5) Price Gains from Subscription to First Open Market Trading
The average share price gain from the subscription pricing during the IPO process to the first day of trading in the open market was 49.7% in 2007, which compares with 77.0% during 2006. At the same time the average price change for companies listing on three of the six emerging markets was a negative 15.1%.
Profile of Pronexus
1. Name Pronexus Inc.
2. CEO Morio Ueno, President and Representative Director
3. Address 2-20, Kaigan 1-chome, Minato-ku, Tokyo 105-0022 Japan
4. Established May 1947
5. Major activities (for IPO and listed companies)
Creation and printing of corporate disclosure documents and
other IR support services. Our main products include IPO
documentation, financial reports and other earnings reports,
shareholder meeting materials, IR materials and web-IR
contents. In addition, the company provides consulting,
information security support, printing and the latest support
services with unique IT designed to meet the latest legal
requirements for a variety of customers' disclosure and IR
activities.
-Our company also provides IPO support services for foreign
companies in Japan.
Example: We helped ASIA MEDIA Co., Inc. and CHINA BOQI Inc. to
list in Japan
6. URL: http://www.pronexus.co.jp/
Source: Business Wire (Business Wire India)