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.

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.

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 (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.

An initial public offering from a key global supplier of semiconductor materials is seeking to raise about ¥460 billion ($3 billion) in what would be Japan’s biggest such deal since 2018.

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.