JPX details matching mechanism for Hirose’s first day of listing

A follow-up to LeapRate’s earlier report on the planned public float of Japanese Forex broker Hirose Tusyo Inc (Hirose FX) on Tokyo Stock Exchange JASDAQ (Standard)…

An announcement on the Japan Exchange Group (JPX) website today provides details on the matching mechanism for the first day of listing of Hirose Tusyo Inc. The company’s shares will trade under code 7185, with the first day of trading set to be March 18, 2016.

The matching mechanism will be applied to Hirose Tusyo Inc. until the initial price is determined.

  • Order book center price

JPY 830 (public offering or secondary distribution price)

  • Quote renewal

An initial special (bid or ask) quote will be indicated at the order book center price. If there is a matching quote within the special quote renewal price interval from the order book center price at the beginning of trading session, matching will occur instantly.

  • Daily price limits

The daily price limits will not apply until the initial price is determined.

Once the initial price is determined, the daily price limits will apply with the initial price set as the base price.

  • Acceptable order price range

Between JPY 208 (25% of the order book center price) and JPY 3,320 (400% of the order book center price). When the initial price is determined, the daily price limits will apply with the initial price set as the base price.

The public listing is an important step for the development and growth of Hirose, which is soon set to join the lineup of Japanese Forex brokers that are publicly listed, such as GMO Click Holdings Inc (TYO:7177) and Invast Securities Co., Ltd. (TYO:8709).

You can view the latest update on Hirose’s IPO by clicking here.

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JPX details matching mechanism for Hirose's first day of listing


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