Mercari's top-of-range IPO mints a new Japanese billionaire

Mercari's top-of-range IPO mints a new Japanese billionaire

Shintaro Yamada, chief executive officer of Mercari Inc. Photographer: Tomohiro Ohsumi/Bloomberg

Mercari Inc. priced its initial public offering at the top of the range to sell 130.5 billion yen ($1.2 billion) worth of shares, a valuation that’s set to make its 40-year-old founder a billionaire.

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