Nomura REIT, Biggest IPO This Year, Falls in Debut: Tokyo Mover
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Nomura Real Estate Master Fund Inc., Japan’s largest initial public offering this year, slid in its debut as the investment trust run by a unit of the nation’s biggest brokerage tracked a drop in the market.
The REIT, run by Nomura Real Estate Holdings Inc., fell to 93,800 yen at the close of trading in Tokyo, 6.2 percent lower than the initial offer price of 100,000 yen. The REIT sold 1.75 million shares in the IPO and raised 175.1 billion yen ($1.8 billion), according to a company statement.