Gree and Paperboy stocks trade much above IPO prices

Gree (TSE:3632) and Paperboy (JASDAQ:3633) went public on December 17th and 19th respectively as we reported before.
Gree’s IPO price is 3,300yen ($33) per share. On 17th, Gree stock opened with 5,000yen ($50), and closed with 4,800yen ($48). Its market capitalization, 107 billion yen ($1B), is larger than Mixi (TSE:2121).
Gree issued 1.2 million new shares and raised 3.96 billion yen ($39M), and existing share holders sold 2.83 million shares with 9.339 billion yen ($93M).
Paperboy’s IPO price is 1,900yen ($19). On 19th, its stock price doubled IPO price with 4,000yen ($40) initial opening price. Its market capitalization is much smaller 5 billion yen ($50M).

See Also:

* Japan networking site stock soars 45 pct in debut | Reuters

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