Japan E-broker E*trade Up 25% On Market Debut

Japan e-broker E*Trade up 25% on market debut
E*Trade Securities rose 25 percent on its market debut on Tuesday, as investors bet Japan’s biggest online brokerage would survive market competition and weather a lacklustre Tokyo stock market.
Shares in E*Trade Securities, affiliated with Japanese venture capital firm Softbank Investment Corp. (SBI) , first traded on the nation’s Jasdaq market for startups at 500,000 yen after its 25.3 billion yen ($245.9 million) offering.

Its initial public offering (IPO) price was 400,000 yen.

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