Xinhua Finance lists in Tokyo

Xinhua Finance Ltd, the China financial services and media company headquartered in Hong Kong, debuted on the Tokyo Stock Exchange (TSE) Mothers market Thursday, and was trading in late morning at 186,000 yen, above its initial public offering price of 175,000 yen. Xinhua Finance, which was founded in 1999, raised a total of 3.5 billion yen raised through the sale of 20,000 shares in the IPO. It is the first foreign company to be listed on the Mothers board. Xinhua Finance said it chose to list on the TSE due to the high level of interest in China among Japanese investors.