Japan Display Plunges 15% In Debut On Business Model Concerns

The fund will retain 214 million shares, which is about 35 percent of Japan Displays issued capital and valued at 163.3 billion yen at todays close. The funds total investment in Japan Display is valued at 330.7 billion yen based on the IPO and closing price today, or about 65 percent more than its initial investment of 200 billion yen. Sony, Hitachi and Toshiba each made investments valued at about 10 billion yen in Japan Display. Those stakes are worth about 16.5 billion yen each. Japan Display had planned to sell shares in the range of 900 yen to 1,100 yen, according to terms for the deal. The company sold 140 million new shares and investors including Sony offered this link 213.9 million existing shares, according to a filing. Nomura, Goldman The offering led by Nomura Holdings click Inc., Morgan Stanley (MS) and Goldman Sachs (GS) Group Inc. More: http://www.bloomberg.com/news/2014-03-19/japan-display-falls-on-first-trading-day-after-3-1-billion-ipo.html