JX Advanced Metals Corp. (TYO:5016) reduced the size of its initial public offering to 439 billion yen, amid concerns about declining IPO demand following a strong previous year.

Shares are priced between 810 yen and 820 yen, which is about 6% lower than earlier projections, based on the company's filing with the Japan Exchange Group.

JX Advanced Metals is scheduled for listing on March 19 on the Prime Market, the filing said.

The public offering involves some 465.2 million shares, with Daiwa Securities as its principal underwriter.