TRYT ¥55.2 billion IPO
The shares are listed on the Tokyo Stock Exchange
Davis Polk advised the international joint lead managers and joint bookrunners in connection with the initial public offering of 40,000,000 shares of common stock and Tokyo Stock Exchange listing of TRYT Inc.
The shares were sold by Life Science & Digital Health Co. as the selling shareholder. The Japanese underwriters have an over-allotment option with respect to 6,000,000 shares. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A / Regulation S. Assuming full exercise of the over-allotment option, the aggregate proceeds of the global offering will be approximately ¥55.2 billion (approximately $390 million).
TRYT is one of the leading placement companies for elderly care, nursing care and childcare workers in Japan and also offers temporary staffing services and healthcare IT solutions.
The Davis Polk corporate team included partners Jon Gray and Christopher Kodama and associates Chihiro Sasaki, Haruka Moriya and Maarten van der Plas. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Counsel Charles Shi provided ERISA advice. Members of the Davis Polk team are based in the Tokyo, London and New York offices.