STJ advises Bain Capital on the successful IPO of Nihon Safety (NS Group) in Japan

2025

  • STJ supervised the collection of data from 3 JGCs: SMBC Nikko, Daiwa and JPMorgan throughout the transaction, providing advice via multiple side-by-side analyses, based on its extensive Japan experience and proprietary database.
  • STJ reviewed the Institutional Investor targets suggested by the banks and used its experience to ensure a focus on high quality investors.
  • STJ provided advice on the strategy to set the prospectus price range of ¥1,440 to ¥1,730 (range width: 20%).
  • Strong interest was expressed despite the launch of SBI Shinsei on an almost identical timescale, and a rise in VIX. The book building range was set at a tight ¥1,440 to ¥1,480.
  • The deal was 10x covered and priced at the upper limit of 1,480 yen.

 

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