Dentsu goes public

Business Brief

TOKYO — Japanese ad conglom Dentsu is celebrating its centenary Nov. 20 with the year’s biggest IPO. It aims to raise 180 billion yen ($1.5 billion) from Japanese, U.S. and European stock markets.

Dentsu, which has capital of $458 million and raked in $15 billion last year, or nearly a third of the country’s ad expenditure, is the first Japanese ad agency to go public in 14 years. The cash will be used to build the new Dentsu complex in Tokyo, scheduled to be completed in 2002.

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