JX Advanced Metals (JXAM), a wholly owned metals unit of Japan's Eneos Holdings , won approval to list its shares in a $3 billion share offering, a regulatory filing showed on Friday, in what would be the nation's biggest IPO in seven years.

The energy company plans to spin off its metals subsidiary and raise as much as $3 billion through a listing that would be one of Japan’s biggest such offerings in recent years.

Eneos Holdings, a Japanese energy company, announced on Friday its plans to spin off its metals subsidiary, JX Advanced Metals, and raise up to $3 billion through a listing.

JX Advanced Metals Corp. is planning to list on the Tokyo Stock Exchange’s prime section on March 19 after a share sale that may raise up to ¥460 billion ($3 billion) for its owner, according to people familiar with the matter.

JX Advanced Metals (JXAM), a metals unit fully owned by Japan's Eneos Holdings, has received approval to list its shares in a $3 billion share offering, according to a regulatory filing last Friday.