Since December, a chip developer has held the largest listing in Tokyo.

In a challenging year for IPOs globally, the Japanese semiconductor maker had the largest IPO in Japan this year, widening the transaction and driving the stock price to the upper end of its target range.

About 60% of the shares were bought by domestic investors.

In an enhanced offer of 66.8 billion yen ($461 million), shares of Socionext Inc. held by Panasonic Holdings Corp., Fujitsu Ltd., and the Japan Development Bank were sold for 3,650 yen each.

Systems-on-chips are created, developed, and supplied by Socionext, whose products are used in commercial, automotive, and consumer applications.

According to the announcement, local investors purchased around 60% of the shares, with international investors purchasing the remaining 40%. The amount of the tranche set aside for foreign investors was exceeded more than 15 times.