Rakuten Bank saw its share price surge as much as 40% in its market debut on Friday, reflecting robust demand for the country’s biggest online lender.
The stock ended the trading day at ¥1,930 on the Tokyo Stock Exchange versus an IPO price of ¥1,400.
It spent the first hour of its debut untraded due to a flood of buy orders before rising as high as ¥1,965, exceeding the highest proposed IPO price before the deal was scaled back.
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