Parking Management Organization To List On TSE Mothers Oct 30

Parking Management Organization To List On TSE Mothers Oct 30

TOKYO (Dow Jones)--Parking Management Organization Ltd., a Japanese operator and management consultant of parking services, has received approval to list on the Tokyo Stock Exchange's Mothers market on Oct.

30, the bourse said Thursday. The company will offer 11,000 shares to the public in its initial public offering.

Of those, 5,500 are newly issued shares and another 5,500 are shares currently held in private. An additional offering of 1,650 newly shares is expected under an overallotment arrangement in the event of exceptional demand. The company will offer all the shares through the book-building method.

Under that method, the underwriter gauges the degree of demand for the shares among institutional investors by accepting orders from fund managers, who indicate the number of shares desired and the price they are willing to pay. The company will conduct a book-building for the IPO shares from Oct.

12 to Oct.

18.

The fixed offering price will be announced Oct.

19. Daiwa Securities SMBC is the lead underwriter of the offer. The tentative price range will be announced Oct.

10. The company expects to net Y129.78 million from the IPO and will use the proceeds for purchasing buildings for parking lots. For the current fiscal year through March, 2008, the company forecasts a parent pretax profit of Y355 million, net profit of Y205 million, revenue of Y3.59 billion, an earnings per share of Y2,735.71 and a dividend of Y390. Last fiscal year, the company posted a parent pretax profit of Y146 million, net profit of Y92 million, revenue of Y3.68 billion, an earnings per share of Y1,322.76. -Tokyo Bureau, Dow Jones Newswires; 813-5255-2929 (END) Dow Jones Newswires
From: FXPR.com