Dynam Japan raises $202 million from Hong Kong IPO

Dynam Japan, a pachinko hall operator in Japan, has raised HK$1.57 billion $202 million from its initial public offering in Hong Kong after fixing the price at the bottom of the indicative range.

Instead of listing in Tokyo, the company came to Hong Kong because several gaming companies, such as the Macau casino operators, are already listed in the city. This should make it easier for investors here to understand the stock, said a source.

Pachinko is similar to a vertical pinball machine and is played by firing small metal balls into the playing field of the machine, and into pockets that trigger the release of...