Dynam Japan seeks to raise $231 million from Hong Kong IPO

Focusing partly on a potential cooperation with gaming operators in Asia and expansion opportunities, Dynam Japan, a pachinko hall operator in Japan, is seeking to raise between HK$1.57 billion and HK$1.79 billion $202 million to $231 million from an initial public offering in Hong Kong.

If successful, Dynam will be only the second Japanese issuer to list in Hong Kong, after SBI Holdings, which raised $206 million from a sale of Hong Kong depositary receipts in April last year, according to Dealogic.

However, the deal comes at a tough time for IPOs in Hong Kong. Inner Mongolia Yitai Coal and China Yongda Automobile...