Dow Jones Newswires -- December 4, 1997
Yahoo Japan Shrs +16% To New High Of
Y2.75 Million
TOKYO (Nikkei/Dow Jones)--Shares of Yahoo Japan Corp.
(J.YHO or 4689) rose Y370,000, or 16%, in morning trading
Friday to an all-time high of Y2.75 million at the end of the
morning session.
Volume totaled 102 shares. With a relatively few number of
shares circulating on the market, their price tends to rise
steeply even on light buying, traders said. Only 975 shares
were offered at the initial public offering. The shares first
traded on Nov. 4.
The shares of parent company Yahoo! Inc. (YHOO) are
rising steadily in New York, which drew investors to the
Japanese subsidiary's shares, said other traders.
Japanese institutional investors say the company has a high
growth potential, but they intend to buy its shares when the
price is in the Y1 million-Y1.5 million range, traders said.
The shares were most heavily traded by securities house
dealers, with some foreign investors also trading them.
Dresdner Kleinwort Benson (Asia) Ltd., Lehman Brothers
Japan Inc. and Kankaku Securities Co. bought actively,
traders said. |
