The IPO offered 2.32 billion shares for a price of 1,200 yen apiece, valuing the offering at 348.6 billion yen ($2.3 billion)

Tokyo Metro Co. shares made a strong debut Wednesday on the Tokyo Stock Exchange, with the opening price 35.8 percent above the offer

Tokyo Metro’s shares soared 47% on debut after raising ¥348.6 billion, Japan’s biggest IPO since 2018. Strong demand, dividend potential, and high ridership drive investor interest.

Tokyo Metro Co.’s stock soared as much as 47% in its trading debut on Wednesday after the initial public offering drew strong demand from investors.

Tokyo Metro, the underground railway network that carries more than 6.5mn passengers a day through the Japanese capital at levels of punctuality and cleanliness envied around the world, will list its shares on the Tokyo Stock Exchange on Wednesday in the country’s biggest initial public offering in six years.