Business & Investment

Matching mechanism on the first day of listing: Tokyo Telecommunications Co., Ltd.

December 23, 2020 TSE
Matching mechanism on the first day of listing: Tokyo Telecommunications Co., Ltd.

Tokyo Telecommunications Co., Ltd. (code: 7359) will be posted on December 24th.
Matching mechanism applied to Tokyo Tsushin Until the initial price is decided, it is as follows.
This special matching mechanism applies directly to listed stocks until the initial price is determined.

1. Order the book center price
1,250 yen (public offering or secondary distribution price)

2. Update quote
(1) First special quote
The first special (bid or ask) quote is shown at the center price in the order book.
*) If there is a matching market within the special market update price interval from the order book center price at the start of trading, a match will occur immediately.

(2) Upper limit
Maximum price: 2,875 yen (230% of the order book center price)
Estimate update: 63 yen every 10 minutes (5% of order book center price)
Special bid quotes will be raised up to ¥ 2,875 every 10 minutes, or ¥ 63 until the initial price is finalized.
* 1) If the matching market price is within the range of the special market update price, the transaction may be executed.
* 2) If the calculated price of the special bid price displayed next is lower than the price of the next tick, the special bid price may be rounded up to the price of the next tick.
* 3) If the normal special estimate update price interval is larger than the above update price interval, it will be updated at the normal price and time interval.
* 4) The upper limit of the initial price is the above upper limit price plus the normal renewal price interval.

(3) Lower limit
Minimum price: 938 yen (75% of order book center price)
Quote Updates: Regular Updates Price and Time Interval
Special ask quotes are updated in the same way as any other issue, that is, based on the same price and time interval.
*) The lower limit of the initial price is the above lower limit price minus the normal renewal price interval.

3. Daily price limit
The daily price limit does not apply until the initial price is determined.
Once the initial price is determined, the daily price limit will be applied and the initial price will be set as the base price.

4. Acceptable order price range
313 yen (25% of the purchase order center price) to 5,000 yen (400% of the purchase order center price)
Once the initial price is determined, the daily price limit will be applied and the initial price will be set as the base price.

Disclaimer: This translation is for reference purposes only. This English version is not an official translation of the original Japanese document. If there is a difference between the English version and the original Japanese version, the Japanese version will take precedence. The Tokyo Stock Exchange, Japan Exchange Group, Inc., and / or Japan Exchange Regulation are not individually or jointly liable for any damages or losses caused by errors, inaccuracies, or misunderstandings regarding this translation. Suppose.



Matching mechanism on the first day of listing: Tokyo Telecommunications Co., Ltd.

https://www.jpx.co.jp/english/news/1031/20201223-02.html Matching mechanism on the first day of listing: Tokyo Telecommunications Co., Ltd.

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