Japanese Collection Agency Going Public

Published on:
8 December 2006 at 06:32 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00039159-japanese-collection-agency-going-public/

by Patrick Lunsford, CollectionIndustry.com

Japanese debt collection agency JPN Collection Service Co. announced that it has received approval to list shares on the Hercules market of the Osaka Securities Exchange. The company expects to offer share on October 24, with the offering price will being announced Oct. 12.

JPN hopes to raise about $8.7 million from the IPO.

For the current fiscal year through January 2007, the company forecasts net profit of $4.6 million on revenues of $45.1 million.