NTT DoCoMo, Japan’s leading mobile phone operator, saw its shares climb higher on the news of a one-for-five share split. The company is to split the shares before its planned listing on the London and New York stock markets. The split will make the shares more affordable for smaller investors, while also boosting the liquidity of its shares.
A DoCoMo share is one of the most expensive in the world. Currently, the shares cost around 1.49 million yen, or $11,200. The news set the stock climbing by almost 7%, as the market expected small investors to take advantage of the new price.
The move comes amid the economic downturn in the technology market. DoCoMo’s share price is down 40% from a year ago.