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The Wall Street Journal: Japan’s Kyushu Railway skyrockets after IPO

TOKYO — Kyushu Railway Co. 9142, +0.00% made its debut on the Tokyo Stock Exchange on Tuesday with its shares climbing 20% compared with the initial public offering price in the first 15 minutes of trading.

Shares opened at 3,100 Japanese yen ($30) a share compared with the IPO price — set at the top of the proposed range — of ¥2,600 a share. The offering will raise ¥416 billion.

The Japanese government is selling its entire stake in the company, known as JR Kyushu, with three-quarters of the 160 million shares allocated for domestic investors and a quarter to non-Japanese investors.

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