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Otsuka Holdings to be listed on TSE on Dec. 15

Friday, November 12, 2010 5:44 AM

TOKYO, Nov. 12, 2010 (Kyodo News International) -- The Tokyo Stock Exchange on Friday approved the listing of major drug and food maker Otsuka Holdings Co. on the bourse on Dec. 15.

With market capitalization estimated at roughly 1 trillion yen, the planned listing of Otsuka Holdings, probably on the TSE's First Section, would mark the largest initial public offering this year since Dai-ichi Life Insurance Co. (OOTC:DCNSF) went public in April.

Otsuka Holdings, which has Otsuka Pharmaceutical Co. under its umbrella, said it is planning to spend the money raised through the IPO on research and development. Otsuka Pharmaceutical is known for its antipsychotic drug Abilify, soft drink Pocari Sweat and health food Calorie Mate.

The Otsuka group was founded in 1921 and shifted to its current holding company structure in July 2008.

(Source: )
(Source: Quotemedia)


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