Tekscend Photomask Corp. (Ticker: 429A JP) is a Japan-based company specializing in the manufacture of photomasks used in semiconductor production. Carved out from Toppan Holdings three years ago, with Toppan retaining a 50.1% stake and private equity firm Integral holding 49.9%, Tekscend is set to list on the Tokyo Stock Exchange Prime Market on October 16, 2025. The IPO will include both new and existing shares, with Integral expected to sell part of its holdings. The company plans to offer 39.6 million to 45.6 million shares, with pricing scheduled for October 8, 2025, targeting a valuation of around ¥300 billion (≈$2 billion USD). The IPO is jointly managed by SMBC Nikko Securities, Nomura Securities, Mitsubishi UFJ Morgan Stanley Securities, and Bank of America.