View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
February 7, 1999

ORACLE JAPAN SHARES SOAR ON OTC DEBUT

By CBR Staff Writer

Oracle Japan Corp’s shares saw their first action Friday when they debuted on the over-the-counter market and jumped 72.8%. In one of the most successful Japanese IPOs in recent years, the shares closed the day at $12,100 yen ($107.90), up from the offering price of 7,000 yen. Oracle Japan offered 5 million shares, which represents 7.0% of its total. The initial offering price was upped to 7,000 yen late last month by manager Nikko Securities Co, from an initial target of between 4,400 and 5,400 yen. The 12,100 yen price is where the stock will officially open when they begin regular trading on Monday. Under Japan’s trading rules, investors were allowed to make only one trade apiece on the OTC market Friday, with the outcome determining Monday’s opening price. The unit, which is said to hold slightly more than 60% of the Japanese database software market, has forecast that net income will rise 30% this year to 7.32 billion yen on sales that will rise 15% to 53.02 billion yen. The 12,100 yen price gives the company a market capitalization of about 860 billion yen ($7.66bn).

Content from our partners
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape
Green for go: Transforming trade in the UK

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU