Asia
Ride-Hailing Platform Go Jumps 21% in Tokyo Trading Debut
Go (TYO:581A) shares surged 21% on their Tokyo Stock Exchange debut Tuesday, trading at 2,910 yen above the IPO price of 2,400 yen.The ride-hailing firm, backed by Goldman Sachs, raised 88.6 billion yen, giving it a market value of 186 billion yen.DeNA saw its voting rights in Go drop from 25.75% to 4.99% following the Tokyo Stock Exchange listing, losing its status as a parent company, major shareholder, and largest shareholder.NTT's (TYO:9432) NTT Docomo also fell below the major shareholder threshold, with its voting rights decreasing from 18.28% to 3.66%.Goldman Sachs is the joint global coordinator and lead underwriter for the IPO.
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