Japan
Sullivan & Cromwell Tokyo partner Izumi Akai is advising smartphone and tablet screen maker Japan Display Inc. on an upcoming $3.8 billion initial public offering on the Tokyo Stock Exchange. Japan Display plans to sell 140 million new shares at a range of between $8.84 and $10.80 apiece. Investors will also sell another 213.9 million existing shares within the same price range. The money raised will be used for capital investment. A final price for the IPO will be announced on March 10, with the offering to take place on March 19. Mori Hamada & Matsumoto partners Toru Ishiguro and Katsumasa Suzuki are advising the issuer on Japanese law. Simpson Thacher & Bartlett is representing underwriters Nomura Holdings Inc., Morgan Stanley and Goldman Sachs Group Inc., with Anderson Mori & Tomotsune acting as Japanese counsel. [Read full story]
