Tokyo Metro's initial public offering could drive momentum in the Japanese market and attract more companies into the country, analysts said, as China continues to lose steam.
In Japan's biggest IPO in six years, Tokyo Metro raised 348.6 billion yen ($2.3 billion) after pricing its shares at 1,200 yen apiece, according to the company's regulatory filing on Tuesday.
"I think both the Tokyo government as well as the Ministry of Finance, obviously, won't want the IPO to fail."
Hyundai India also started taking orders for its $3.3 billion IPO in Mumbai this week, in a deal set to become the country's biggest listing.
When asked if he thinks Tokyo Metro and Hyundai India's listings will open the floodgates for more activity, he said, "I do."
Persons:
Mio Kato, CNBC's, Kato, Dealogic, Ringo Choi, Choi, — CNBC's Dylan Butts
Organizations:
Tokyo Metro, Japan's, Reuters, Tokyo Stock Exchange, LightStream, Ministry of Finance, NASDAQ, Hyundai, EY's
Locations:
Tokyo, China, Asia, Pacific, India, Japan, Hyundai India, Mumbai, EY's Asia