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Nifty sets IPO price at 210,000 yen.

TOKYO, Nov. 28 Kyodo

Nifty Corp., a Japanese Internet access provider wholly owned by Fujitsu Ltd., said Tuesday it has set its initial public offering price at 210,000 yen per share for its Dec. 7 debut on the Second Section of the Tokyo Stock Exchange.

For the IPO, Nifty will float 27,800 new shares and Fujitsu will release 52,100 outstanding Nifty shares, including 10,400 shares for an overallotment option. The IPO will be worth up to around 16.8 billion yen.

Subscriptions will be accepted from Wednesday through Monday with payment due on Dec. 6.

Nifty was jointly established by Fujitsu and Nissho Iwai Corp., forerunner of Sojitz Corp., in 1986. It became a wholly owned subsidiary of Fujitsu in 1999.
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Publication:Japan Computer Industry Scan
Date:Dec 4, 2006
Words:125
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