JX Advanced Metals sets tentative price range of 810 yen to 820 yen per share for IPO

JX Advanced Metals (5016.T), a wholly owned unit of Japan's Eneos Holdings 5020, has set a tentative price range of 810 yen to 820 yen ($5.37 to $5.43) per share for its initial public offering, a regulatory filing showed on Monday.

The price range compared with an indicative price of 862 yen set in February and gives JXAM a market value of as much as 761.3 billion yen ($5.05 billion).

JXAM is a leading manufacturer of sputtering targets, which are materials used to create thin metal films during chip production.

The company is due to debut on the Tokyo Stock Exchange on March 19 following the final IPO pricing on March 10.

($1 = 150.9000 yen)