The IPO offered 2.32 billion shares for a price of 1,200 yen apiece, valuing the offering at 348.6 billion yen ($2.3 billion)

TOKYO (Reuters) -Tokyo Metro's shares shot up 45% in their market debut on Wednesday after Japan's largest initial public offering in six years bagged it $2.3 billion with the lure of sizeable dividends. Shares closed at 1,739 yen ($11.43) giving Tokyo Metro, one of the capital's two major subway operators, a valuation of roughly 1 trillion yen.

Tokyo Metro Co.’s stock soared as much as 47% in its trading debut on Wednesday after the initial public offering drew strong demand from investors.