Flea market app firm Mercari makes firm debut in largest IPO this year

Japanese flea market app operator Mercari Inc. made a strong debut on the Tokyo stock market Tuesday in the largest initial public offering so far this year in Japan, rising to a daily limit high after opening at a price far above the IPO price.Mercari shares briefly surged to an upper limit for the day of 6,000 yen, twice its IPO price of 3,000 yen, before ending the first trading day on the Tokyo Stock Exchange's Mothers market for start-ups at 5,300 yen.The highest price for the day lifted the market capitalization of the online marketplace operator to 811.9 billion yen ($7.3 billion). B…READ FULL ARTICLE