Japanese Refiner Plans IPO for Metals Unit

Japanese refiner Eneos is mulling over an initial public offering for its subsidiary JX Advanced Metals Corp, putting up as much as 70% of the company for sale and eyeing potential proceeds of up to $4.5 billion. According to a Bloomberg report, the IPO is set to be discussed by the company’s board this Friday, with a discussion set to center on the amount of shares the company would offer. Unnamed sources told Bloomberg that Eneos’ chief executive is in favor of a smaller offering of 50.1% while some members of the board favor the…