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Carlyle-backed Rigaku raises $863 million in Tokyo IPO

TOKYO: Rigaku Holdings raised 129 billion yen ($863 million) after the Japanese X-ray testing tool maker priced its IPO at the high end of its range, according to a regulatory filing released Thursday .

The company, backed by buyout firm Carlyle Group, priced its IPO at 1,260 yen per share, at the high end of the 1,230 to 1,260 yen range.

Rigaku will debut on the Tokyo Stock Exchange on October 25.

On Tuesday, Tokyo Metro raised 348.6 billion yen after pricing its IPO, Japan’s largest in six years, at the high end of the range.

The IPO was oversubscribed more than 15 times, Reuters reported, with investors attracted by the metro operator’s dividend yield.

Bain Capital this month abandoned a planned IPO of chipmaker Kioxia after investors insisted on a lower valuation than the buyout firm was targeting, Reuters reported.

($1 = 149.5000 yen)