Tokyo Metro valuation at $4.7bn for Japan's largest IPO in 6 years to repay 2011 earthquake reconstruction bonds.

Tokyo and Japan's national governments aim to value Tokyo Metro, a subway operator, at $4.7 billion for an initial public offering (IPO) planned by end-October. This would be Japan's largest IPO in about six years. The IPO proceeds will be used to repay reconstruction bonds issued after the 2011 earthquake and tsunami.