not vested
Pachinko firm opens book
Niraku GC Holdings opens its retail book today for its HK$384 million float, followed by the heavyweight GF Securities starting its HK$27.9 billion H-share sale to retail investors tomorrow.
Japan's fourth-largest pachinko-hall operator, Niraku, will price shares at between HK$1.10 and HK$1.28 apiece, representing at least HK$2,585.80 for a board lot of 2,000 shares.
Niraku is the second locally listed Japanese pachinko operator after Dynam Japan Holdings (6889). Niraku will use 90 percent of its net proceeds to open five new halls in northeast Japan.
Chairman and chief executive Hisanori Taniguchi said Niraku chose the SAR to list because investors are familiar with the gaming industry.
Source: The Standard HK