Takara Leben Said to Plan Solar Investment Unit IPO, Nikkei Says

(Bloomberg) — Takara Leben Co., a Tokyo-based developer of
condominiums, plans to take its solar power investment unit
public, the Nikkei newspaper reported, without saying where it
got the information.

The company recently applied to the Tokyo Stock Exchange’s
new market for infrastructure investment vehicles and the
screening process may take at least three months, the paper
said.

Takara Leben plans to use proceeds from listing to expand
the unit’s solar holdings to 130 megawatts by fiscal 2018, the
Nikkei reported. The company has about 100 megawatts planned or
operating, according to a company document released on Nov. 6.

The infrastructure fund market, set up in April, has no
funds listed yet, according to the exchange’s website.

An official at Takara Leben declined to comment on the
article, asking not to be named as per company policy. Officials
at the Tokyo Stock Exchange also declined to comment on
individual applications in accordance with exchange policy.

To contact the reporter on this story:
Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at landberg@bloomberg.net
Jason Rogers, Alexander Kwiatkowski

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