Tokyo Metro's initial public offering could drive momentum in the Japanese market and attract more companies into the country, analysts said, as China continues to lose steam. In Japan's biggest IPO in six years,

Tokyo Metro is expected to raise 348.6 billion yen ($2.3 billion) after pricing its initial public offering at the top end of its range, according to two sources familiar with the matter, in the largest IPO in Japan for six years.

Tokyo Metro Co.’s initial public offering raised ¥348.6 billion ($2.3 billion) after the company priced its shares at the top of the marketed range, in a show of hot demand for Japan’s biggest listing in six years.