JX Advanced Metals Corporation (Ticker: 5016 JP), a Japanese company specializing in high-purity metals and compound semiconductor wafers for the microelectronics industry, plans to list on the Tokyo Stock Exchange on March 19. JX Advanced Metals, a subsidiary of Eneos Holdings, is offering 465,160,100 existing shares at an indicative price of ¥862 per share, aiming to raise approximately ¥400.9 billion (USD 3 billion).

The IPO proceeds will go to the parent company, Eneos Holdings, which reportedly plans to use the funds for shareholder returns and decarbonization investments. Joint global coordinators on the deal are Daiwa Securities Group, JPMorgan Chase & Co., Morgan Stanley and Mizuho Financial Group. This IPO is the largest in Japan since SoftBank Corp's 2018 listing.