April 23, 2014 / 12:20 AM / 4 years ago

Seibu Holdings shares open flat at IPO price

TOKYO, April 23 (Reuters) - Shares in railway and property company Seibu Holdings opened at 1,600 yen in its first day of relisting in Tokyo on Wednesday, in line with its IPO price, which was set at a deep discount to earlier estimates amid growing caution over Japan’s economic recovery.

Seibu shares were the third-most traded on the main board.

Seibu returned to the market after being delisted 10 years ago due to a scandal involving falsified shareholder records. (Reporting by Ritsuko Ando and Hideyuki Sano; Editing by Dominic Lau)

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