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Rakuten Bank, Japan's largest online bank, saw its shares jump by this amount on their first trading day.
The largest public offering in Japan since 2018 was raised by the bank controlled by the largest e-commerce company in Japan. It raised $627 billion through its IPO.
Rakuten Bank says its explosive debut was justified by rapid growth and a high return on equity. Deposits at the bank, for example, have tripled over the last four years and now amount to $67 billion.
Rakuten Group Inc.
JP:4755 (Japan: Tokyo)