Jupiter IPO to raise up to USD912 million

3 Mar 2005

Japanese cable TV and telecoms operator Jupiter Telecom, and shareholder Microsoft, are expected to raise up to JPY95.6 billion (USD912 million) from the company’s initial public offering (IPO) this month, up 14% on the original target sale price. Jupiter, which is selling a million new shares, will price them at between JPY70,000 and JPY80,000 a share, making the sale Japan’s largest IPO since the government sold JPY160 billion shares in oil developer Index Corp in November. Microsoft, which owns a 19.5% stake in Jupiter, will put 102,921 shares up for sale. As well as cable TV services, Jupiter offers broadband internet and telephony services under the banner J-Com. At the end of 2004 it claimed 1.6 million cable subscribers, 761,400 broadband and 773,000 telephony customers.

Japan, J:COM (Jupiter Telecom)