Tekscend Photomask untraded with glut of buyers in Tokyo debut

Shares in Tekscend Photomask 4429A were untraded with a glut of buy orders in their Tokyo debut on Thursday.

Tekscend Photomask raised 138.9 billion yen ($920 million) after pricing its initial public offering at 3,000 yen per share at the top of the range.

Toppan Holdings 7911 carved out the business three years ago with private equity firm Integral 5842.

Tekscend Photomask manufactures photomasks used in chipmaking.

Tech stocks have been buoyant in Japan amid global enthusiasm for companies seen as benefiting from investment in artificial intelligence.

($1 = 150.9000 yen)