SG Holdings Completes Largest IPO in Japan in 2017

December 13, 2017

SG Holdings Co., Ltd., the holding company of the SGH Group, a Japanese logistics group including Sagawa Express Co., LD., one of Japan’s largest express package delivery companies, completed an approximately ¥115 billion (approximately $1.02 billion) initial public offering. SG Holding’s initial public offering is the largest initial public offering in Japan in 2017. If the Japanese over allotment option is exercised in full, the offering size will be approximately ¥127 billion (approximately $1.12 billion). Shares in SG Holdings opened at ¥1,900 on the first section of the Tokyo Stock Exchange, valuing the company at approximately ¥603.8 billion (approximately $5.3 billion). The global offering consisted of a registered public offering in Japan and an international offering outside Japan and the United States in reliance on Regulation S. S&C represented SG Holdings in the international offering.

SG Holdings has the second-largest market share in the Japanese express package delivery services market and operates a wide range of logistics and other businesses. As a listed company, SG Holdings plans to continue its strategy of focusing its efforts on business to business logistics services related to the growing e-commerce market and further grow its business through its strategic capital and business alliance with Hitachi Transport System, a leading 3PL services company in Asia. The international offering consisted of shares held by SG Holdings employees’ shareholding association.

The S&C team was led by Izumi Akai and Keiji Hatano, along with Bryce Gray and Ellie Cho.