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Permira-backed sushi chain Sushiro plans up to $730 million IPO: Reuters

(Reuters) — Sushiro Global Holdings Ltd, which runs Japan’s largest chain of conveyor-belt sushi restaurants, said shareholders including European buyout firm Permira [PERM.UL] would sell shares worth up to 82.4 billion yen ($730 million) in an initial public offering next month.

The shareholders will sell as many as 21.1 million shares at an indicative price of 3,900 yen per share, according to a filing by Sushiro Global, valuing the company at 107 billion yen.

The final sale price will be set on March 21 after gauging demand from investors between March 14 and March 17. The shares will start trading on March 30.

The IPO will be managed by Nomura Holdings Inc (8604.T), Morgan Stanley (MS.N) and UBS AG (UBS.N).

Permira bought Sushiro in 2012 from Japanese private equity firm Unison Capital for about 80 billion yen, and boosted the value of the company by cutting costs on fish ingredients by using its global network.