The Wall Street Journal-20080123-Seven Bank Ltd-- Plans Are Under Way to List Shares on Jasdaq Exchange
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Seven Bank Ltd., the banking affiliate of Japanese retail giant Seven & I Holdings Co., will list on the Jasdaq Securities Exchange next month in an offering valued at as much as 52.33 billion yen ($493.7 million). The bank, which generates most of its revenue from commissions from automated-teller machines located in affiliated 7- Eleven convenience stores and Ito-Yokado supermarkets, said it will list on the market for start-up companies Feb. 29. The indicative price for the offering is 140,000 yen a share. The deal would be the largest initial public offering in Japan since Sony Financial Holdings Inc.'s 348 billion yen offering in October. It is still small compared with IPOs by other banks in recent years, such as Aozora Bank Ltd.'s 378 billion yen offering in 2006.
