WL Ross to float Japanese electrical parts maker Ohizumi


Ohizumi, the Japanese electrical parts maker backed by the private equity firm founded by billionaire investor Wilbur Ross, has said it will list on the Tokyo Stock Exchange later this month.

The company, which makes electrical parts for temperature sensors for use in cars, household appliances and industrial equipment, will launch an initial public offering of its common stock on 22 June after receiving regulatory approval last month.

WL Ross invested in Ohizumi in January 2003. The size of the offering or the number of shares to be sold was not disclosed.

WL Ross invests in and restructures financially distressed companies. The firm, which joined Invesco in 2006, last year emerged as the largest investor in Virgin Money’s £900m buy-out of nationalised banking giant Northern Rock.

Copyright © 2012 AltAssets