Japan\\\'s Seibu Holdings valued at $5.6b on relisting

Japanese railway and hotels giant Seibu Holdings returned to the Tokyo stock market on Wednesday, a decade after it was de-listed following a major accounting scandal. The stock rose 5.4 per cent from its initial public offering price to 1,687 yen in morning trade, valuing the group at about 576 billion yen ($5.6 billion). The IPO price was at the bottom end of the company’s proposed range as the Tokyo stock market has lost momentum recently and global investors are becoming more selective about Japanese shares, according to AFP.