Shares in J-Power, the Japanese electricity generator, rose on their trading debut in the second biggest initial public offering this year due to strong international demand.

J-Power raised Â¥375bn (€2.8bn) putting it second behind the €3.5bn ($4.3bn) IPO of Belgacom, the Belgian telecom group. Nomura Securities and UBS were joint global co-ordinators and bookrunners of the J-Power deal and UBS also led the Belgacom deal with Goldman Sachs, Lehman Brothers and Morgan Stanley.