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Mixi IPO today September 14, 2006

Posted by fukumimi in Internet, IPO, IT, Japan.
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Mixi (ticker: 2121.t), the #1 Japanese SNS with a claimed 80%+ domestic market share is now listed on MOTHERS.

Issue price was JPY1.55M, and the price is heading skywards. Checking the news on 2121.t on our Bloomberg terminal at work, at the start of trading, buy orders were outnumbering sell orders 19 to 1.

The price has edged above JPY3M (close at JPY3.15M) at the end of the first day of trading, with a balance of 5000 buy orders meaning that no shares were traded on the first day.

The TSE has announced that it has set the maximum upward price fluctuation at double the previous day ‘s (today’s) close, which would mean that it could go up to JPY6.3M by the end of tomorrow.

The current share price values Mixi at JPY222B (nearly $2B) and makes the 30 year old CEO an instant billionaire (at least on paper).

Comments»

1. Gen Kanai - September 14, 2006

That TSE rule is not specifically for Mixi alone, right? That’s a general rule.

Quite frothy….

2. fukumimi - September 14, 2006

Some additional announcements from the exchange:
http://www.tse.or.jp/news/200609/060914_a.html

The announced rules have been applied previously, eg at the Drecom IPO.

3. Gen Kanai - September 14, 2006

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