Tokyo Metro, one of the main subway networks in the Japanese capital, will list its shares on the Tokyo Stock Exchange on October 23.
The offering price is expected to be around 1,100 yen, or 7.7 dollars, per share. That will give the company a market capitalization of around 640 billion yen, or 4.5 billion dollars, making it the largest initial share sale in Japan so far this year.
Japan’s government owns 53.4 percent of the company, while the Tokyo government holds the remaining 46.6 percent.
Half of the shares owned by the two governments will be sold.
The application for the listing on the TSE’s Prime Market Division was approved by the exchange on Friday.
Revenues from the sale of the central government’s stake will be used for reconstruction of areas hit by the March 2011 earthquake and tsunami in northeastern Japan.