March 19, 2014 / 6:30 AM / 3 years ago

Seibu submits plans to list on Tokyo exchange

1 Min Read

TOKYO, March 19 (Reuters) - Japan's Seibu Holdings said on Wednesday that it has submitted plans to list its shares on the Tokyo Stock Exchange, in what is expected to be one of the country's biggest initial public offering (IPO) in 2014.

It is still unclear how many shares Cerberus Capital Management, the company's largest shareholder with a 35.48 percent stake, will sell in the IPO.

Seibu was delisted in 2004 in the wake of a disclosure scandal and Cerberus led its bailout with a $1 billion-plus investment. (Reporting by Nathan Layne; Editing by Dominic Lau)

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