Japan’s Second Biggest IPO This Year Priced at Top of Range

Semiconductor material maker Tekscend Photomask Corp. priced its initial public offering at the upper end of the range on Wednesday in this year’s second-biggest listing in Japan.

The shares were sold at ¥3,000 apiece, according to a regulatory filing, after they had been marketed at ¥2,900 to ¥3,000 each.

Printing firm Toppan Holdings Inc. carved out Tekscend — previously called Toppan Photomask Co. — in 2022, with private equity firm Integral Corp. buying a 49.9% stake.

Tekscend’s ¥156.6 billion IPO trails only JX Advanced Metals Corp.’s offering in March in terms of scale this year in Japan. The deal attracted ...