Vertex co.,Ltd listed on the TSE Standard on 18 September. Its estimated market capitalization was ¥5.96 billion, and its initial price was ¥607, above the offering price. Tokai Tokyo Securities was the lead manager, bookbuilding took place from 3 to 9 September, and the offering price was ¥550.
Vertex co.,Ltd is a real estate company engaged in the planning, development and sale of investment condominiums, as well as rental property management, with operations centered on the Tokyo metropolitan area. On 18 September, it transferred its listing to the TSE Standard Market. With an estimated market capitalization of ¥5.96 billion and an offering size of ¥2.29 billion, this was a small-scale offering, with a 180-day lock-up period. Tokai Tokyo Securities was the lead manager, while other securities firms included SBI Securities, Matsui Securities and Monex Securities.
The IPO schedule and initial price were as follows: an indicative price of ¥530, a price range of ¥530 to ¥550, a bookbuilding period from 3 to 9 September, an offering price of ¥550, an application period from 11 to 16 September, a listing date of 18 September, and an initial price of ¥607. The initial price exceeded the offering price.