Japanese Ad Agency Dentsu Sets IPO Price

Japanese advertising agency Dentsu Inc., in the initial public offering to go public is offering a share price of 420,000 yen ($3,411) per share, Reuters reported.

The price implies a market value of $4.74 billion.

Dentsu is Japan's largest ad agency and is the fourth-largest in the world behind Interpublic Group of Companies Inc., WPP Group Plc and Omnicom Group Inc.

Dentsu is Japan's biggest ad agency, commanding about a quarter of the advertising market and producing half of all prime-time television spots.

In global terms, it is the fourth-largest ad group in terms of sales behind Interpublic Group of Cos Inc, WPP Group Plc and Omnicom Group Inc, analysts said.