Japan's largest power generation company, JERA, has begun a study exploring a potential listing on the US market, according to people familiar with the matter. The company is equally owned by Tokyo Electric Power Company Holdings and Chubu Electric Power, and is planning an initial public offering. While a listing on the Tokyo Stock Exchange had been the baseline plan, the company is now undertaking a full-scale review that includes a US listing, aiming to broaden its investor base and strengthen its funding platform as its overseas business expands. The study is at an early stage, and the timing, market, and specific scheme for the listing have not been decided. JERA has a domestic power generation capacity of 59 million kilowatts, annual revenue of about 30 trillion yen, and total assets of around 100 trillion yen. It plans to invest 5 trillion yen between fiscal 2024 and fiscal 2035.
Tokyo Electric Power Company Holdings, IncorporatedTokyo Electric Power Company Holdings owns 50% of JERA; a potential US listing could unlock value and provide a funding platform for JERA's overseas expansion, benefiting TEPCO as a shareholder.
Chubu Electric Power Company,IncorporatedChubu Electric Power owns 50% of JERA; a potential US listing could unlock value and provide a funding platform for JERA's overseas expansion, benefiting Chubu as a shareholder.
JERA is the subject of the article; the study of a potential US listing aims to broaden its investor base and strengthen funding for overseas expansion, which is positive for its growth prospects.