Tokyo Stock Exchange Chooses Lead Managers for IPO

June 8, 2007
By Ken Worsley

In an statement made today, the Tokyo Stock Exchange announced that Daiwa Securities group, Nomura Securities group and Morgan Stanley will be the co-lead managers for the TSE’s public offering of shares at the time of listing.

At a press conference this afternoon, TSE President Taizo Nishimuro told reporters, “The three companies are reliable partners who can sufficiently meet (needs for) offering shares on overseas markets…We selected the three companies by considering such factors as their past records as IPO lead-managers and the content of their research and analyses of stock exchanges.”

11 firms applied for the position. Nishimuro said that the TSE’s IPO will not come before December 2008, and news sources in Japan have been saying that it will most likely come in early 2009.

Filed Under Equity Markets, IPO