Tokyo Metro's shares shot up 45% in their market debut on Wednesday after Japan's largest initial public offering in six years bagged it $2.3 billion with the lure of sizeable dividends.

Japan's national and Tokyo governments are seeking a 700 billion yen ($4.7 billion) valuation for Tokyo Metro as they prepare to list the subway operator as early as October-end, three sources ...

If Tokyo Metro's value equals its net assets of 640 billion yen ($5.05 billion), the IPO could raise about 300 billion yen, of which the national government share would come to around 170 billion ...