Solasia rises after pricing Japanese IPO

Solasia Pharma K.K. (Tokyo:4597) gained ¥87 (47%) to ¥272 in its first day of trading Friday on Tokyo Stock Exchange's Mothers. The company raised ¥3.6 billion ($32 million) through the sale of 19.4 million shares at ¥185, giving the company a market cap of ¥15.5 billion ($138.4 million).

Underwriters were Mizuho, Mitsubishi UFJ Morgan Stanley, SMBC Nikko, IwaiCosmo Securities, Okasan, Tokai Tokyo, Monex, SBI Securities, Ace, Kyokuto, Toyo and Marusan...