Japan's Heroz marks record post-IPO gain, up almost 11-fold

MTI

24/04/2018 06:10

** Japan's Heroz  4382.T  mark record gains following its
IPO, opening at 49,000 yen, an around 11-fold increase from its
IPO price of 4,500 yen 
    ** Shares of the AI (Artificial Intelligence) development
firm had been untraded with glut of buy orders for two sessions
since they were listed on Friday
    ** The gains surpassed a rise in MTI  9438.T , which gained
nine-fold over its IPO price when it was listed in October 1999 
    ** Trading in Heroz shares was highly volatile, hitting the
limit-low of 42,000 yen, only 8 minutes after first trade
    ** At opening price, Heroz was valued at 163 billion yen
($1.50 billion), compared to its revenue of 878 million yen and
net profit of 94 million yen in the fiscal year that ended in
April 2017
    
($1 = 108.80 yen)
    

 (Reuters
Messaging:hideyuki.sano.thomsonreuters.com@reuters.net)